State College

Macy’s announces 100 store closures across the country


In August, Macy’s announced that it was closing 100 of its stores across the country. On Wednesday, the retailer released 68 of the locations where its department stores will be no more.

While six Pennsylvania stores were listed, the Nittany Mall’s store was not.

After a lackluster holiday season and the release of the 68 locations, Macy’s shares fell more than 9 percent Wednesday. The news follows on the heels of more store closings, as brick-and-mortar retail cedes more space to Amazon and online competitors.

Macy’s estimates 6,200 jobs will be cut and another 3,900 workers will be displaced or reassigned.

Macy’s said it projects a $575 million dent in sales for 2017, MarketWatch reported, and the majority of the planned 68 closings will happen this year.

Roger Van Scyoc: 814-231-4698, @rogervanscy