Macy’s will shutter a number of its stores throughout the United States next year.
The department store chain announced plans to permanently close 10 stores in January, according to CNBC. Exact locations have yet to be announced.
There are currently 24 Macy’s stores in New Jersey and over 700 locations nationwide.
Like many other retailers, Macy’s is shuttering brick-and-mortar stores as online shopping demands increase.
Adobe Analytics, which tracks e-commerce spending, anticipates digital sales from Nov. 1 to Dec. 31 this year will hit $207 billion, representing record gains of 10%, according to CNBC.
“We also recognize the significant value the market is assigning to pure e-commerce businesses,” Macy’s CEO Jeff Gennette said. “And as we look at the landscape today, we are undertaking additional analysis that could help inform our long-term strategy to further unlock value for Macy’s.”
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