Macy’s to close 66 stores across the US
The iconic Macy’s department store chain is to close 66 stores across the US as part of plans to return its business to sustainable, profitable sales growth.
The move is part of the retailer’s Bold New Chapter announced in February 2024 which included plans to shutter around 150 underperforming stores over a three-year period while investing in 350 go-forward Macy’s locations through to its 2026 financial year.
Tony Spring, chairman and chief executive officer of Macy’s, Inc., said: “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 prioritise investments in our go–forward stores, where customers are already responding positively to better product offerings and elevated service.”
Following implementation of the new strategy, Macy’s said investments in the pilot Macy’s stores – First 50 – have boosted sales for three consecutive quarters and contributed to record customer satisfaction scores.
The company said: “Macy’s enters 2025 well-positioned to build momentum with a stronger store fleet and remains focused on bringing this enhanced customer experience to more locations nationwide and through its digital channels.”
Join us at The Retail Bulletin’s Omnichannel Futures Conference in London on 6 March. Register for free places here
