Macy’s is closing more stores than initially planned, as the iconic department store chain faces shifting consumer preferences and evolving retail trends. According to the company’s third-quarter earnings report, Macy’s now expects to close 65 locations by the end of the year—up from the 50 closures originally announced in February.
Macy’s CEO Tony Spring confirmed the updated figure during an earnings call, noting that most closures would occur after the holiday season. “We now expect to close roughly 65 locations this year, in line with our typical cadence,” Spring stated.
This decision is part of a broader initiative Macy’s unveiled earlier this year called “A Bold New Chapter.” Under the plan, the company aims to shutter 150 “unproductive” stores—or about 30% of its total locations—by 2026, while focusing on investments in 350 “go-forward” stores.
“A Bold New Chapter serves as a strong call to action,” Spring said in February. “It challenges the status quo to create a more modern Macy’s, Inc. We are making the necessary moves to reinvigorate relationships with our customers through improved shopping experiences, relevant assortments, and compelling value.”
Macy’s, like many traditional retailers, has struggled to adapt to the rise of online shopping and changing customer habits. The store closures are part of an effort to streamline operations and direct resources toward stores that are performing well and areas of high potential growth.
As the closures roll out, Macy’s promises to prioritize creating engaging in-store experiences and delivering value to its loyal customers. However, the announcement has raised concerns about job losses and the impact on communities that rely on these stores.
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