NEW YORK CITY (PIX11) — Macy’s will shutter 150 store locations by the end of 2026, the retailer announced on Tuesday.
Macy’s is set to shut down more than 100 “underproductive” locations to prioritize investments in 350 “go-forward” stores. The department store chain will also close 50 stores by the end of 2024. This is all under the retailer’s new strategy, “A Bold New Chapter,” the company shared.
“A Bold New Chapter serves as a strong call to action. It challenges the status quo to create a more modern Macy’s, Inc,” said Tony Spring, Macy’s chief executive officer on Tuesday. “We are making the necessary moves to reinvigorate relationships with our customers through improved shopping experiences, relevant assortments and compelling value.”
The company shared that it will focus on its Bloomingdale’s and Bluemercury brands, which have been “outperformers,” in the luxury market.
“Our teams are energized by the work ahead as we accelerate our path to market share gains, sustainable, profitable growth and value creation for our shareholders,” said Spring.