Macy’s has identified 68 locations that will close in early 2017, including three stores in Ohio.
The retailer announced it is eliminating more than 10,000 jobs and plans to move forward with 68 store closures after a disappointing holiday shopping season. The department store chain also lowered its full-year earnings forecast.
Macy’s will close locations in Columbus, Sandusky and Steubenville. More than 193 employees will be impacted in Ohio.
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The retailer said Wednesday that sales at established stores fell 2.1 percent in November and December compared to the same period last year. Macy’s Inc. pointed to changing consumer behavior and said it reflects challenges facing much of the retail industry.
In early August, the department store operator said it would close about 14 percents of its store base as it aims to become more nimble in a competitive market.
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Shares in Macy’s fell more than 8 percent in after-hours trading.
Macy’s is just one of a slew of retailers shutting down locations in an effort to control hemorrhaging costs. Changes in shopper behaviors, online shopping and deep discounters have led to bankruptcies or brick-and-mortar closings for retailers.
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Many experts expect the closings to continue in 2017 as more people shop online.
In the region, three locations of The Limited women’s clothing store were closed permanently the last week of December. Hoards of shoppers snagged 90 percent off deals on Limited merchandise at The Greene Town Center in Beavercreek and Tri-County Mall in Cincinnati following the announcement. The Limited at the Liberty Center further south closed quietly on Dec. 21.
The Associated Press contributed to this report.
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