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Macy’s to shut down 150 ‘underproductive’ store locations by 2026, company announces

Macy’s may be shutting down one hundred fifty shops in a realignment attempt, the store introduced in a news release Tuesday.

By 2026, Macy’s says it will shut down one hundred fifty “underproductive” shops, or kind of 30% of all locations, whilst prioritizing investments in 350 “move-ahead” stores. It says it will near 50 shops with the aid of the stop of this fiscal 12 months.

The announcement says this flow − dubbed by way of Macy’s as “A Bold New Chapter” − will permit it to refocus its assets and prioritize different stores.

“A Bold New Chapter serves as a sturdy name to movement. It demanding situations the repute quo to create a greater contemporary Macy’s, Inc,” said Tony Spring, Macy’s CEO, in a declaration. “We are making the vital moves to reinvigorate relationships with our customers via stepped forward buying stories, applicable assortments and compelling cost.”

“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,” Spring stated.

Company expanding Bloomingdale’s, Bluemercury

Despite the shuttered Macy’s places, the organization says it also desires to make bigger Bloomingdale’s and Bluemercury by forty five locations altogether, signaling increased funding in the luxury quarter.

The corporation announced plans for about 15 Bloomingdale’s stores and at the least 30 Bluemercury places within the subsequent 3 years. About 30 Bluemercury shops are set for transforming, as properly.

A List of macy’s closing stores 2024

Including the shop closures announced in January, here’s a list of the Macy’s shops facing closure this 12 months. Note: This list might be up to date as extra save closures are officially announced.

California

  • San Leandro: Bayfair Center
  • Simi Valley: Simi Valley Town Center

Hawaii

  • Lihue: Kukui Grove Center

Florida

  • Tallahassee: Governor’s Square

Virginia

  • Arlington: Ballston Quarter

Luckily for unswerving buyers, the ultimate 350 Macy’s locations will be reinvested in and stepped forward upon — and if it turns out your nearby save is set to close and you are in want of a new dress or bottle of fragrance, there may be usually Macys.Com.

FAQs about Macy’s 

Is Macy’s closing stores in 2024 USA?

Fifty of the company’s 150 underperforming stores will close by the end of 2024, with the remaining 100 to be closed over the next few years. The firm declared that it will only have 350 Macy’s stores by 2026.

How many Macy’s stores are there in the US?

As of January 10, 2024, there are 507 Macy’s stores in the United States. With 89 stores, or almost 18% of all Macys stores in the US, California is the state and territory with the greatest number of Macys locations.

Where is the world’s largest Macy’s store?

Macy’s Herald Square in New York, NY.

Who is the CEO of Macy’s?

Tony Spring
Tony Spring Chief Executive Officer and Chairman-elect, Macy’s, Inc.

What is Macy’s net worth?

Macy’s has a market cap or net worth of $5.90 billion as of March 15, 2024.
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