Macy’s announced it plans to close about 100 stores next year, and one data analytic company is projecting what cities will be hit the hardest.
In early August, the department store operator said it would close about 14 percents of its store base as it aims to become more nimble in a competitive market.
Now, 1010data — an analytic company — has analyzed which stores are likely to be closed. Three of the cities are in Ohio.
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Using its Local Marketing Intelligence tool, the company found most stores would be closed in the Midwest. The tool targets locations where the value of real estate is greater than their value as a retail location.
According to Retail Dive, cities likely to be impacted are Milwaukee, Pittsburgh, Detroit, St. Louis, Columbus, Cincinnati and Cleveland.
The list did not have Dayton on a projected area of closure. Macy’s has location at the Dayton Mall and Mall at Fairfield Commons.
The closures come as Macy’s reported Thursday that second-quarter profits and sales fell. The results, however, beat Wall Street estimates as efforts to bring back customers are taking hold.
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The nation’s largest department store chain says that it earned $11 million, or 3 cents per share, in the quarter ended July 30. That compares with $217 million, or 64 cents per share, in the year-ago period.
Associated Press contributed to this story.
