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The 150 closures will be at underperforming locations, with 50 planned for this year, the retailer announced on Tuesday, Feb. 27, unveiling what it is calling "A Bold New Chapter" strategy designed to return Macy’s profitability.
"It challenges the status quo to create a more modern Macy’s, Inc.," Tony Spring, chief executive officer of the company said in a statement. "We are making the necessary moves to reinvigorate relationships with our customers through improved shopping experiences, relevant assortments, and compelling value.
“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.”
After the closures are completed in 2026, Macy's is expected to have about 350 remaining stores.
Macy's says it will emphasize its Bloomingdale’s and Bluemercury luxury stores that have outperformed the Macy’s brand, opening new, smaller versions of those stores in the years to come.
Specific store closures have not yet been announced.
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