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Macy's is closing 100 stores ' here's where they will likely shut down

Published by Business Insider on Wed, 24 Aug 2016


Macy's recently revealed plans to shut down 100 storesas it battles slowing sales and growing online competition.The retailer didn't say which stores would close or how many employees would be affected,though laid-off workerswill likely number in the tens of thousands.Macy's employs more than 150,000 people, and the closures represent 15% of itsstore base.Many Macy's employees have been posting in online message boards asking if anyone knows which stores will close.The business analyticsfirm 1010datalooked into it and compiled a list of cities where closures are most likely.The firm identified the most at-risk areasbased on a review of consumer spending data that showed where Macy's is losing the most market share to competitors including Dillard's, Nordstrom, and Lord and Taylor.Here are the top 10 cities where Macy's lost the most market share between 2014 and 2015 and where the company is most likely to close stores as a result, according to 1010 data.Milwaukee, Wisconsin14% lossPittsburgh, Pennsylvania12% lossHartford, Connecticut9.4% lossPhiladelphia, Pennsylvania9.1% lossDetroit, Michigan8.2% lossCincinnati, Ohio7.5% lossDaytona Beach, Florida7.4% lossSt. Louis, Missouri6.2% lossColumbus, Ohio5.9% lossCleveland, Ohio5.7% lossMacys experienced the biggest losses in market share in large cities in the Midwest, such as Cincinnati and Milwaukee.But areas in the South, Northeast, and Pacific Northwest also experienced significant declines, according to 1010 data.Here's a heat map showing the areas that experienced the most losses in market share.SEE ALSO:There's an obvious gap in the sandwich market ' and this Whole Foods-backed restaurant wants to close itJoin the conversation about this storyNOW WATCH: Here's what Rio's 'uninhabitable' Olympic Village looks like
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