Macy’s is set to close about 150 stores over the next three years to focus more on its upscale Bloomingdale’s and Bluemercury chains.
The company aims to reinvigorate customer relationships through improved shopping experiences and relevant assortments.
“A Bold New Chapter serves as a strong call to action. It challenges the status quo to create a more modern Macy’s, Inc. We are making the necessary moves to reinvigorate relationships with our customers through improved shopping experiences, relevant assortments and compelling value,” CEO Tony Spring stated.
“Our teams are energized by the work ahead as we accelerate our path to market share gains, sustainable, profitable growth and value creation for our shareholders.”
The closures target underperforming locations, with 50 stores shutting this fiscal year and the rest by 2026.
Macy’s is also expanding small-format stores to compete with retailers like Target and Nordstrom.
The restructuring follows a series of closures and layoffs as part of efforts to streamline operations and adapt to the evolving retail landscape.
