Macy’s has announced plans to close its full-line department stores in the US and Canada, and it will also lay off 1,000 employees.
The company announced the moves on Wednesday, as it faced mounting pressure to cut costs.
The stores are the largest retailer in the United States and Canada and were among the biggest losses among the US retailers.
“Our decision to shutter these stores in light of our ongoing restructuring efforts is a difficult one for us,” the company said in a statement.
“The decisions announced today will have a significant impact on our business and are not indicative of our intent in the future.”
Macy’s said it had been “actively discussing with its employees, customers and communities about our future plans and the impact the closures will have on our customers”.
“This is a very difficult time for our people and families, but we are focused on continuing to deliver the best possible customer experience for our customers, partners and associates,” it said.
“This effort to focus on our core business is necessary in order to continue to deliver our best-in-class customer experience.”
Marmys first full-time stores in North Carolina were closed on Tuesday, while its new store in New Orleans is also being closed.
A store is seen in front of the Macy’s department store in Los Angeles on October 1, 2019.
Getty ImagesMacys has been in a fight with its chief executive officer, Brian Tracy, for several months.
The retailer said that in its most recent annual report in February it was forecasting a loss of $9.4bn in 2019.
“We continue to meet our financial and operational goals, and we have achieved significant milestones in the past two quarters,” Macy’s said in its statement.
“We remain committed to our long-term vision of expanding our retail footprint and continuing to meet the needs of our customers and partners.”
Meadowbrook and The Gap closed on Wednesday as well.
“I am grateful to Macy’s for making these difficult decisions and for their commitment to our communities,” said Elizabeth Czerniak, the head of the National Alliance of Black Women.
“Macy has a long track record of being an advocate for our community.
I look forward to the future with Macy’s.”
The company said that its full year results for 2019 would be released in November.
Macy is the third major US retailer to announce plans to reduce or eliminate stores.
The Gap announced in September that it was closing about 1,600 stores across the US.
Last year Macy’s closed 2,000 stores in Alabama, Georgia, Mississippi, South Dakota, Tennessee and Texas.