Macy’s and Kohl’s are each closing one store in Colorado as part of the department store chains’ plans to dump underperforming stores this year.
Macy’s has released a list Thursday of 66 closures, including the store in Denver’s Northfield Stapleton mall. The company said the majority of the locations on the list will be closed during the first quarter.
Macy’s previously closed the Streets at Southglenn Furniture store in Centennial.
Kohl’s announced Thursday which 27 of its approximately 1,150 locations nationwide will be closed. The Kohl’s at Arapahoe Crossing shopping center in Aurora is on the list.
Both companies target underperforming stores. Macy’s said the closures are part of that “Bold New Chapter Strategy” announced in February 2024. Company officials said the goal is to create a more modern Macy’s. They plan to invest more in better performing stores.
Kohl’s CEO Tom Kingsbury said in a statement that as the company builds on its long-term growth strategy, “it is important that we also take difficult but necessary actions to support the health and future of our business for our customers and our teams .”
Other retail chains have recently announced closures, including Walgreens, which closed stores in Aurora and Denver in 2024. Party City, a party supply company, announced in December that it was going bankrupt.
Three Wendy’s restaurants in Denver closed in December. The company said it is laying off 140 aging restaurants and those in underperforming areas. The fast-food chain also plans to build about 250 to 300 new restaurants.
CBS reported that US retailers announced more than 7,100 store closures until the end of November 2024. According to research agency CoreSight, this is an increase of 69% compared to the same time last year. Additionally, 45 retailers filed for bankruptcy protection, compared to 25 retail bankruptcies in all of 2023, the report said.
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