As online sales continue to trump brick-and-mortar retail sales, stores are closing yet again. Retail giant Macy’s has announced their plan to close 14% of it’s stores (100).
The brand has experienced another disappointing quarter, with a drop of 3.9%, following a “disastrous first quarter.” The 100 store-closure follows the 2015 closure of 41.
“We operate in a fast-changing world, and our company is moving forward decisively to build further on Macy’s heritage as a preferred shopping destination for fashion, quality, value and convenience,” said Terry Lundgren, Macy’s CEO said.
Experts agree the need for brick-and-mortar will likely never die totally; however, the extensive fleet many companies still hold is dead weight when they should be focusing their efforts digitally.
“What you really need in brick-and-mortar is an accent to what you do with your other channels,” say’s Michael Goldberg, chief executive of Zimmerman Advertising.