Macy's says it will close 35 to 40 stores in early 2016, or as much as 5 percent of its namesake department stores.<br />Macy's expects the locations to close will have about $300 million in combined revenue.<br />The company says employees who work at the closing stores may be offered positions at nearby locations, and workers who are laid off will be offered severance benefits.<br />The Cincinnati-based company says it closes a few underperforming stores every year.<br />The company runs 770 Macy's stores and has closed 52 locations over the last five years while opening 12.
