The New York City-based Macy’s will be closing 66 stores across nearly two dozen states as part of its “Bold New Chapter” strategy, describing the soon-to-be-closed locations as “non-go-forward” locations.
The new strategy, initially announced in February 2024, is designed to return the company to sustainable, profitable sales growth. In a Thursday press release, Macy’s said it plans to close about 150 underproductive stores in total over a three-year period.
“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, Inc.
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