Macy’s and Kohl’s Announce Store Closures in Colorado
Macy’s and Kohl’s are closing one store each in Colorado as part of the department store chains’ plans to dump underperforming stores this year.
Macy’s released a list Thursday of 66 closures that includes the store at the Northfield Stapleton shopping center in Denver. The company said the majority of the locations on the list will be shut during the first quarter.
Macy’s earlier closed the Streets at Southglenn Furniture store in Centennial.
Kohl’s disclosed Thursday which 27 of its roughly 1,150 locations nationally it will shutter. The Kohl’s at the Arapahoe Crossing mall in Aurora is on the list.
Both companies are targeting underperforming stores. Macy’s said the closures are part of its “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 chain stores have recently announced closures, including Walgreens, which shut stores in Aurora and Denver in 2024. Party City, a party supply business, announced in December that it’s going out of business.
Three Wendy’s restaurants in Denver closed in December. The company said it is unloading 140 outdated restaurants and ones in underperforming areas. The fast food chain also plans to build about 250 to 300 new restaurants.
CBS reported that U.S. retailers announced more than 7,100 store closures through the end of November 2024. That’s up 69% from the same time last year, according to research firm CoreSight. In addition, 45 retailers filed for bankruptcy protection, compared with 25 retail bankruptcies for all of 2023, the report said.
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