Macy’s will close up to 40 underperforming stores next year, but there is no word whether locations in Western New York will be affected.
The Cincinnati-based department store is working to cut costs and bolster online operations. The stores make up 5 percent of Macy’s locations and 1 percent of its sales. The company has not identified which locations will close, but said it will release a list of stores this fall.
Macy’s has local stores in Walden Galleria, Boulevard Mall, Eastern Hills Mall and McKinley Mall.
“Keep in mind, they said they will close underperforming stores, and, historically, Buffalo has been an outstanding market for Macy’s,” said Russell Fulton, general manager of Eastern Hills Mall. “It has been very profitable because there is no competition here from Saks, Nordstrom or Neiman Marcus.”
However, Nordstrom opened an outlet concept store, Nordstrom Rack, in Amherst last week. And the Fashion Outlets of Niagara Falls has Saks’ outlet concept, Off Fifth.
More retailers are moving toward outlet and off-price stores as consumers begin turning away from traditional department stores in malls and look for bargains online and elsewhere. Macy’s introduced its own discount concept in February called Macy’s Backstage.