MajorsDec 30, 2024
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Macy’s to Close 66 Stores as Part of Turnaround Strategy
The closures are part of the retailer’s plan to close 150 locations over a three-year period.
Macy’s shared a list of the 66 locations it will close as part of its “Bold New Chapter” turnaround plan.
New York—Macy’s Inc. has announced it will close 66 Macy’s locations as part of its previously announced closures.
The store closings are a part of the “Bold New Chapter” strategy, which was announced in February 2024.
The retailer is planning to close 150 underperforming Macy’s locations over a three-year period as it looks to reach “sustainable, profitable sales growth.”
Macy’s did not share how many employees would be affected.
The full list of Macy’s store closures can be found here, which includes stores in New York, California, Florida, and Texas.
“Closing any store is never easy, but as part of our Bold New Chapter strategy, we are closing underproductive Macy’s stores to allow us to focus our resources and prioritize investments in our go–forward stores, where customers are already responding positively to better product offerings and elevated service,” said Tony Spring, chairman and chief executive officer of Macy’s.
Related stories will be right here …
The store closings are a part of the “Bold New Chapter” strategy, which was announced in February 2024.
The retailer is planning to close 150 underperforming Macy’s locations over a three-year period as it looks to reach “sustainable, profitable sales growth.”
Macy’s did not share how many employees would be affected.
The full list of Macy’s store closures can be found here, which includes stores in New York, California, Florida, and Texas.
“Closing any store is never easy, but as part of our Bold New Chapter strategy, we are closing underproductive Macy’s stores to allow us to focus our resources and prioritize investments in our go–forward stores, where customers are already responding positively to better product offerings and elevated service,” said Tony Spring, chairman and chief executive officer of Macy’s.
Macy’s will be investing in 350 locations through fiscal 2026.
At the start of its turnaround strategy, the retailer had begun investing in 50 Macy’s locations, known as the “First 50.”
Macy’s said these locations have seen boosted sales for three consecutive quarters as well as record customer satisfaction scores.
“Building on that success, Macy’s enters 2025 well-positioned to build momentum with a stronger store fleet and remains focused on bringing this enhanced customer experience to more locations nationwide and through its digital channels,” said the retailer.
The retailer owns Macy’s, Bloomingdale’s, and Bluemercury.
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