Companies

Macy’s to close 66 stores as part of turnaround strategy

Jan 14, 2025 United States

The US department store chain has confirmed the closure of 66 stores as part of its Bold New Chapter strategy, which aims to return the company to sustainable, profitable sales growth

The 66 closures are part of a list of 150 underperforming stores to be closed over three years within Macy’s Bold New Chapter strategy. At the same time, the company is investing in its 350 go-forward Macy’s locations through fiscal 2026.

“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.

Since the turnaround's strategy launch in February 2024, the investments made in 50 stores have helped to drive three consecutive quarters of sales growth and contributed to record customer satisfaction scores.

The company believes it is now better positioned to continue to improve the customer experience in more locations across the country and through its digital channels.

Image Credits: rli.uk.com

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