Macy’s has announced it will be closing 66 underperforming stores in 2025 as part of the retailer’s turnaround strategy.
Over the next three years, Macy’s aims to close 150 “underproductive” stores while investing in 350 locations it has deemed worthy of investing in as part of its “Bold New Chapter” strategy, announced in February ’24.
The brick-and-mortar stores Macy’s is shuttering as “non-go-forward” are in several states, including Arizona, California, Colorado, Florida, Georgia, Idaho, Illinois, Louisiana, Massachusetts, Maryland, Michigan, Minnesota, Missouri, New Jersey, New York, Ohio, Oregon, Pennsylvania, Tennessee, Texas, Virginia and Washington.
"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," Tony Spring, chairman and chief executive officer of Macy's, said in a statement Thursday.
Big box stores are struggling along with Macy’s as fewer shoppers are visiting malls and more Americans are purchasing essentials online, a shift that occurred during the pandemic. U.S. retailers have announced more than 7,100 store closures through the end of November 2024, marking a 69% jump from the same time last year.
A complete list of the Macy’s closures can be found here.