Macy's Closes 29 More Stores

A new year means more closures for Macy’s. The department-store giant is slated to shutter nearly 30 stores, the Wall Street Journal reported on January 8.

Macy’s has continued to struggle as more consumers turn to online shopping and competition increases. The company announced in August 2016 they would close as many as 100 stores in the coming years after experiencing six straight years of declining sales. They have continued to shut down locations as the leases expire. Macy’s currently manages 680 department stores and 190 specialty stores.

Though there was a decline in sales during the holiday months, it wasn’t as steep as investors had worried, the Journal wrote.