Here’s first round of 125 stores

Macy

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Macy's Herald Square

Macy’s will close roughly 125 stores, a fifth of its locations, over the next three years.

After previously announcing that it would close 298 locations, Macy’s said Tuesday that it will now shutter nearly 100 more.

The retailer also said that it is cutting about 2,000 positions , eliminating 9% of its corporate and support positions.

“We are making deep cuts that impact every area of our business,” Macy’s CEO Jeff Gennette said Wednesday during the retailer’s Investors Day. “These changes are painful but they are necessary.”

Macy’s, once the model of the luxury department store, has struggled to stay afloat during a time when Amazon has remade the shopping landscape and one time retail giants like Payless and Toys R Us are going out of business.

Macy’s store closures:Macy’s to close 125 stores over next 3 years and slashing 2,000 jobs

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