In the latest step in its revitalization effort, Macy’s has named 66 of the 150 stores it plans to close in the next two years.
The move is “designed to return the company to sustainable, profitable sales growth,” the department store chain said in a news release Thursday.
None of the brand’s four Wisconsin stores are included on the closure list. Still, numerous locations in California, Florida, New York, Texas and other states are set to close, likely within the first quarter of 2025.
“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,” Macy’s CEO and chairman Tony Spring said in a statement.
In February 2024, Macy’s announced its “A Bold New Chapter” plan to close 150 of its “underproductive” stores by January 2027, roughly 30% of all locations ― while prioritizing investments in 350 “go-forward” stores. Part of the strategy is the Macy’s “First 50” initiative. In these 50 stores located across diverse geographic markets, the company is testing “the latest retail strategies, including product introductions and visual merchandising improvements,” Yahoo Finance reported.
In its December earnings call, Macy’s said its First 50 locations saw their third consecutive quarter of comparable sales growth, up 1.9% from the third quarter of 2023. However, Macy’s sales across all locations were down 3.1% compared to this quarter the previous year.
Macy’s announced only 66 of the stores it plans to close. Most of them are expected to close during the first quarter of 2025. Macy’s didn’t say when it would announce what other stores will close.
The exact timeline for the closure of the 66 stores is unclear, but clearance sales will begin in January and run for eight to 12 weeks, Macy’s said on its website.
Clearance sales at Macy’s Backstage stores and Macy’s Furniture Galleries will begin in February and run for about six weeks. You can find Macy’s stores near you using the company’s online store locator.
Macy’s has four stores in Wisconsin, including two in the Milwaukee area. It’s unknown if these locations are among those closing in the next two years, but they aren’t included on the list of 66 closures.
