Macy’s is reducing its brick-and-mortar footprint even more aggressively than expected. The chain has announced plans to shutter an additional 65 locations by the end of the year, a significant jump from the 50 closures it projected back in February.
The closures are part of Macy’s long-term strategy, announced earlier this year, to streamline its operations by closing 150 underperforming stores—around 30% of its total locations—by 2026. Dubbed “A Bold New Chapter,” the plan redirects resources into 350 stores that the company sees as more viable for future growth.
Which Macy’s locations are closing this year?
Macy’s hasn’t shared which stores will be closing their doors. As it trims its department store lineup, it’s banking on the growth of its other brands. Over the next three years, the company plans to open 15 new Bloomingdale’s stores and 30 Bluemercury locations, while giving a facelift to 30 existing Bluemercury stores.
How many Macy’s stores are left in the U.S.?
The company currently operates 435 traditional stores. Including its small-format, furniture, and Macy’s Backstage locations, that number grows to 512 locations.
Other major closures in the U.S. this year
Macy’s isn’t the only retailer facing closures. Brick-and-mortar stores and restaurants around the country have shuttered dozens to hundreds of locations, including Walgreens, Red Lobster, Pizza Hut, TGI Fridays and Walmart.