Macy’s is Closing 100 of its Stores Nationwide

Macy’s(M) announced the closures Thursday. They represent about 15% of all Macy’s department stores. The iconic retailer did not disclose the locations of stores, but said most of them will be shut down in early 2017.

┬áThe Macy’s move is the latest in a wave of store closures amid the rise and success of Amazon (AMZN, Tech30) and other online shopping options.

For instance, Walmart (WMT)announced plans in January to shut down 269 stores this year and just this week, inked a $3.3 billion deal to acquire Amazon rival Jet.com.

Sports Authority, once the nation’s largest sporting goods retailer, is shutting all 450 of its stores after filing for bankruptcy. Other traditional retailers such as Target (TGT), JC Penney (JCP), Kmart, Sears (SHLD) and Kohl’s (KSS) have also pulled the plug on hundreds of stores in recent months.

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