US retailer Macy’s to shutter 66 department stores
The Bold New Chapter strategy aims to return Macy’s to ‘sustainable, profitable’ sales growth
US department store group Macy’s has confirmed this week the closure of 66 of its non-go-forward store locations.
News of the closures are part of the group’s ‘Bold New Chapter’ strategy, which was first announced in February 2024.
According to the retailer, the new strategy aims to return Macy’s to “sustainable, profitable” sales growth.
As a result, this means the closure of approximately 150 unproductive stores over a three-year period, while investing in its 350 go-forward Macy’s locations throughout 2026.
Since the start of its new strategy, Macy’s investments in the pilot stores – First 50 – have already boosted sales for three consecutive quarters and contributed to “record” customer satisfaction scores.
Tony Spring, chairman and CEO of Macy’s, said: “Closing any store is never easy, but as part of our Bold New Chapter strategy, we are closing unproductive 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.”
Macy’s maintains that it is entering 2025 “well-positioned to build momentum with a stronger store fleet”.
The group also remains focused on “bringing this enhanced customer experience to more locations nationwide and through its digital channels”.