Macy’s to Close Additional Stores After Christmas in California
Macy’s to close up to 65 stores after the holidays
Macy’s has announced plans to close approximately 15 more store locations after the holiday season, bringing the total number of closures to about 65. This decision comes as part of Macy’s strategy to accelerate the closure of underperforming stores, with a goal of shutting down 150 locations by the end of 2026.
During the third quarter of 2024, Macy’s reported a net sales decrease of 2.4% compared to the previous year. Despite this, the company remains committed to repositioning itself through an initiative called “A Bold New Chapter,” aimed at strengthening the Macy’s brand, fostering luxury growth, and streamlining operations.
“We are focused on creating a more modern Macy’s Inc by improving the shopping experience, offering relevant products, and providing compelling value to our customers,” said Macy’s CEO Tony Spring in a statement.
While Macy’s did not specify which specific stores would be closing, the company operates 89 locations in California, more than any other state. Nationwide, Macy’s currently has 435 store locations, including small format, furniture, and backstage stores. Additionally, the company operates 59 Bloomingdale’s locations and 164 Bluemercury locations.
In other news, Macy’s Bluemercury brand reported a 3.3% increase in sales in the third quarter, with eight new stores opened. Bloomingdale’s also saw positive growth, with net sales up 1.4% over the previous year and comparable sales climbing by 3.2%.
In conclusion, Macy’s evolving strategy reflects a commitment to adapt to changing consumer trends and preferences, while continuing to provide quality products and services to customers across the country.
