As reported today in Commercial Property Executive, Macy's will be closing 100 stores, or roughly 15% of its properties, in 2017. The company says it will be focussing on better performing stores and strengthening its online presence. Macy's shares have fallen more than 40% in the past 12 months and profits have all but evaporated.
The impact this will have on inventory liquidation volumes remains unclear. Inventory may be shifted to other stores rather than liquidated in place, but it would be wise to keep an eye on this. Once the locations of the closing stores are made public, there may be some local opportunities to purchase product coming out of them.