An established American retailer has announced that even more store closures are coming. Does that mean that we could see them disappear from the state of Colorado?

According to the Denver Business Journal, Macy's announced on a conference call Wednesday that they will close more than the 40 stores they originally planned in early 2016.

The closures are attributed to disappointing third quarter earnings along with a year to year sales decline.

Out of the 770 stores the company owns nationwide, they had planned to close anywhere between 35-40 stores in the first quarter of next year. However, they stated on the conference call that further closures will follow after those are complete.

No announcement has been made on which stores would close, and when they would definitely be shuttered.

Surprisingly, the announcement comes at the same time that Macy's announced they would be opening new stores under different brand names, including the name Macy's Backstage. They plan on opening at least 50 of those in the next two years.

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