Here are the 31 Macy’s stores in 19 states closing so far - MarketWatch

Macy’s Inc. is undergoing a business transformation that includes thousands of job cuts and 125 store closures over the next three years. About 30 of the stores have already been designated to be closed.

This three-year “Polaris strategy” aims to streamline the department store retailer’s fleet of stores in favor of those that have undergone the “Growth treatment,” a revamp that includes store remodels and technology improvements.

Read: Macy’s stores at risk of closing drive an average of 80% less sales than ‘Growth’ stores: JPMorgan

“It’s sad for the communities that now have a lot of empty real estate in their malls, the landlords stuck with those malls and the employees who will lose their jobs,” said Sucharita Kodali, principal analyst at Forrester.

Still, she thinks the downsizing is the right thing for Macy’s: “Half of revenue only comes from 150 ‘magnet’ stores so it’s doing what it needs to do.”

Macy’s had a total 871 stores as of the end of the third quarter of 2019 ended in October, made up of 636 Macy’s stores, 171 Bluemercury stores, 37 Bloomingdale’s stores, 19 Bloomingdale’s The Outlet stores and 7 Backstage stores.

Bank of America analysts say the Polaris program, which sounds like a dramatic shift, could actually end up being conservative if it goes according to plan.

“However, we worry about execution risks, especially with the number of customer-facing initiatives taking place in a short period,” analysts wrote.

Bank of America rates Macy’s stock underperform with a $12 price objective.

Here’s a list of the stores that are set to close this year:

State	City	Venue
California	Antioch	Somersville Towne Center
California	San Diego	Horton Plaza Park
Connecticut	Meriden	Westfield Meriden
Florida	Miami	The Falls Mall (Bloomingdale’s)
Florida	Pompano Beach	Pompano Citi Centre
Florida	Sanford	Seminole Towne Center
Florida	Vero Beach	Indian River Mall
Georgia	Decatur	The Gallery at South DeKalb
Georgia	Macon	Macon Mall
Hawaii	Waikoloa Village	Kings’ Shops
Idaho	Lewiston	Lewiston Center Mall
Illinois	Carbondale	University Mall
Illinois	West Dundee	Spring Hill Mall
Indiana	Muncie	Muncie Mall
Kansas	Prairie Village	N/A
Kentucky	Owensboro	Towne Square Mall
Maryland	Salisbury	The Centre at Salisbury
Massachusetts	Leominster	The Mall at Whitney Field
Montana	Helena	Helena Northside Center
New York	Commack	N/A
New York	Hicksville	Broadway Commons
North Carolina	Winston-Salem	Hanes Mall
Ohio	Cincinnati	Northgate Mall
Ohio	St. Clairsville	Ohio Valley Mall
Ohio	Stow	Stow-Kent Plaza
Pennsylvania	Harrisburg	Harrisburg East Mall
Pennsylvania	State College	Nittany Mall
Tennessee	Goodlettsville	RiverGate Mall
Washington	Burlington	Cascade Mall
Washington	Seattle	(Downtown)
Washington	Walla Walla	(Downtown)
Macy’s Inc., The Wall Street Journal

Macy’s stock has tumbled 33% over the past 12 months through morning trading Thursday, while the SPDR S&P Retail exchange-traded fund XRT, -0.56%  has edged up 0.3% and the S&P 500 index SPX, +0.16%  has climbed 22%.

--Tomi Kilgore contributed to this report.

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