Pier 1 will close nearly half of its stores. Macy’s will close about a fifth of its locations over three years. J.C. Penney will close six stores.
The company began reopening stores on May 4 and as of this week has opened 190 Macy’s and Bloomingdale’s stores, Macy’s chairman and CEO Jeff Gennette said during an analyst call Thursday.
Most stores will be reopened by late June, the company said Thursday as it released “preliminary sales and operating results ranges” for the first quarter of its 2020 fiscal year, which ended May 2.
“With two weeks of results from reopened stores, customer demand is moderately higher than we anticipated,” Gennette said in a statement. “Customers also responded positively to our Mother’s Day gifting strategy. Even in times of social distancing, our customers want to celebrate the special occasions in their lives, and we help them do that safely.”
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Macy’s previously announced changes to its shopping experience with the reopenings, including “no-touch” consultations in beauty departments and the suspension of alteration services.
Gennette said curbside pickup is available at approximately 300 locations, which includes stores that remain closed to the public.
“We are closely watching consumer behavior as we reopen more stores, and we remain flexible as we navigate this crisis,” Gennette said. “We expect business to recover gradually.”
Paula Price, Macy’s chief financial officer, said Thursday that they are reevaluating the permanent closings and “taking a hard look at both the number of stores … as well as the timing.”
The company said it expects to provide select and preliminary first quarter 2020 financial results on June 9 and will release its first quarter earnings results July 1.
This story will be updated.
Follow USA TODAY reporter Kelly Tyko on Twitter: @KellyTyko
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