Macy’s Announces Closure of 65 Stores by Year End

Macy’s has made the decision to close 65 locations by the end of the year, following an earlier announcement that 150 stores would be shuttered over a two-year period. The company’s CEO, Tony Spring, shared in the recent earnings call on Dec. 11 that the closures will kick off after the holiday season.

These closures stem from a shift in customer shopping preferences and the identification of underperforming stores within Macy’s footprint. This marks the second significant downsizing for Macy’s since 2020, reducing the number of stores to 350, just over half of what it was before the pandemic.

The affected stores, while yet to be disclosed, are described as “underproductive locations,” making up about 25% of the company’s overall square footage and 10% of sales. Macy’s has outlined a strategy focusing on digital excellence and the expansion of small-format stores. Additionally, the company plans to boost luxury growth by opening more Bloomingdale’s and Bluemercury stores.

As of now, it remains uncertain if the Macy’s location in the Staten Island Mall in New Springville will be among those closing. Stay tuned for further updates on this development.