MACY’S has started closing stores as it targets to close 125 locations in three years.

The legendary big-box retailer aims to shutter nearly a fifth of their U.S. stores by the end of 2023.

The company plans to close 33 stores across the U.S. by the end of December 2022.

The store closures will impact 18 different states across the nation.

California and Washington state will have three locations permanently shuttered. 

The other 16 states with Macy’s store closures are New Jersey, Florida, Texas, Hawaii, Florida, North Carolina, Georgia, Connecticut, Massachusetts, Maryland, New York, Illinois, Kentucky, Ohio, Pennsylvania and Indiana.

“Stores remain an integral part of our omnichannel retail ecosystem,” Macy’s said in a statement to USA Today.

“As our business evolves, we continue to optimize and reposition our store fleet to more effectively support our omnichannel sales growth and expand market share.”

At the beginning of 2020, Macy’s operated 777 Macy’s and Bloomingdale’s storefronts and their goal is to get closer to 650 stores. 

The company closed 52 stores in 2021.

Macy’s Corporation closed three stores by the end of the third quarter in 2022, bringing their retail inventory to 722 stores. 

In order to get to the stated goal, the corporation must close around 70 storefronts.

The company has moved sales to focus more on online fulfillment.

Macy’s recognizes that their online sales tend to be higher in areas where storefronts also exist. 

“Digital performance is stronger in the markets where we have stores,” CFO Adrian Mitchell said in an earnings conference call.

Macy’s stock price has lost 6.73percent of its value since the beginning of the year, ending at a price of $20.65.

Year over year sales declined by 3.1percent in Q3 this year.

Still, executives believe the store closures are putting the company in a healthier financial position and remain optimistic about the company’s future.

“Retail is detail, and our talented and agile team are executing well to compete,” Macy’s CEO, Jeff Gennette, said in the Q3 earnings brief.

“We know the consumer is under increasing pressure and has choices on where to spend. As a leading gifting destination with fresh inventory across the value spectrum, we are ready to meet our customers’ needs this holiday season.”

Macy’s did not respond to requests for comment.

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In recognition of its anniversary, FEANDREA will host a five-day open house event from

Sept. 26 to Sept. 30. The event is open to all and will take place daily from 10:00 a.m. to 4:00

p.m. at its Ameziel Inc. headquarters located at 8291 Milliken Ave., Rancho Cucamonga, CA

91730.

The pet furniture brand will display its extensive product line of over 50 items designed

exclusively for cats and dogs. Pet lovers in attendance will receive a special 20% discount

on best sellers, new arrivals, and other popular collections. In addition, free limited edition

merchandise will be given away, while supplies last. Attendees are also encouraged to bring

a drawing of their pet, which will be added to the “We Care, We Share” wall collage, for an

additional 5% discount.

In the spirit of caring and sharing, FEANDREA will donate 5% of all proceeds from the

event to a local nonprofit organization. In tandem, FEANDREA will collaborate with local

pet adoption groups to introduce attendees to pets that are up for adoption.

“FEANDREA is all about creating shared memories and connecting pets and their human

parents, so we are always looking for fun ways to create lasting memories,” said Rami

Izadyar, marketing manager of North America. “We hope this gathering becomes one of

those lasting memories.”

Location: 8291 Milliken Ave., Rancho Cucamonga