By Lauren Thomas, CNBC • Updated on January 6, 2021 at 12:54 pm Bruce Leighty | Photolibrary | Getty Images Macy's is closing dozens of department stores this year. The closures are part of a previously announced plan by Macy's to shut 125 locations by 2023, which the retailer outlined last February. department stores this year, in a bid to move out of underperforming malls and trim a real estate empire that isn't as valued as it once was. Liquidation sales have already started at some of the locations that are closing. The rest are slated to start later this month. (See a full list of the closing stores and recently closed locations below.) In 2020, Macy's closed about 30 locations.