Major Mall Retailer With 18 Illinois Spots Closing Over 50 Stores

I'm not telling you anything that you don't already know when I say that malls across the country really aren't doing very well, and we're seeing a lot of store closings that prove the point. Here's just a sample of stores that were once thought to be "mall staples" that have closed or are closing locations:

• Foot Locker
• Bath & Body Works
• The Body Shop
• Rue 21
• Express

I recently read a piece that said it's false to think that all malls are doing poorly. TheStreet.com put it this way:

Instead, malls have become more a game of "have" and "have not." The successful malls have arguably become even more successful while the struggling ones run the risk of closing.

That has forced retailers to make some very tough choices. A number of big names have been selectively closing locations. One retailer — a mall anchor store — has been very aggressive in closing locations for what it says is a good reason.

If you're wondering who that mall anchor store chain might be...

The Criteria For Store Closings That Macy's Is Currently Using Is Pretty Simple To Explain, And We'll Have To See What It Means To The 18 Macy's Stores In Illinois

In order to keep the company profitable and afloat, Macy's plan is to close their store's doors and move out of any locations that they don't believe they can be profitable into places and situations where they can be profitable.

Macy's has even broken down their retail locations into two categories: go-forward stores and non go-forward stores.

Macy's is planning on continuing to invest resources and time into the spots that they consider go-forward stores, while the non go-forward stores will be closed.

Regardless Of How Macy's Classifies Its Store Locations, Go-Forward Or Non Go-Forward, 150 Stores Are Looking At, Or Have Already Experienced, Being Shuttered

At this point, Macy's has 519 stores in the United States, along with 150 Bluemercury stores, and 56 Bloomingdale's locations. Illinois currently is home to 18 Macy's locations.

According to a report at iHeart.com, Macy's will close 55 locations by the end of this year, with the rest of the 150 closures to take place shortly after that.

Macy's still has not released a list of the locations that are being targeted for closure, but with only 4 months left in 2024, it should become apparent very soon.