Overview

• Macy's has announced plans to close 66 stores this year, with most shutting down by the end of the first quarter of 2025.
• The closures are part of a broader initiative to shutter 150 underperforming stores by the end of 2026, leaving the company with approximately 350 'go-forward' locations.
• The retailer aims to prioritize investments in its best-performing stores and expand smaller-format stores, as well as its Bloomingdale’s and Bluemercury brands.
• Macy's has faced declining sales due to competition from online retailers and discount stores, with its share price dropping over 50% in the past decade.
• Other department stores, such as Kohl's, are also closing locations, reflecting ongoing challenges for traditional brick-and-mortar retail in the evolving marketplace.