Macy's to Close 65 Stores by Year's End as Part of Strategic Overhaul

The retailer accelerates its store closure plan while focusing on luxury growth and modernizing operations.

Macy's has increased its planned store closures for 2024 to 65 locations, up from the 50 originally announced earlier this year.
The closures are part of a broader strategy, 'A Bold New Chapter,' aimed at modernizing Macy's operations and focusing on profitable locations.
The company plans to shut down 150 underperforming stores by the end of 2026, representing about 30% of its total locations.
Despite the closures, Macy's is expanding its luxury-focused Bloomingdale's and Bluemercury brands, with 45 new locations planned over the next three years.
An independent investigation into an employee's alleged concealment of $150 million in delivery expenses found no significant impact on Macy's financial results.