Macys to Close Almost a Third of Its Locations in Restructuring Effort

Published on February 27, 2024

Macy’s announced on Tuesday that it will close 150 underperforming stores over the next three years as it seeks to revive itself by focusing more on luxury products and better service. Fifty stores are to shut down by the end of this year. The downscaling will leave the century-and-a-half-old brand with 350 of its currently existing outlets by the end of 2026. Macy’s new strategy—called “A Bold New Chapter”—includes modernizing many of the existing stores and opening approximately 15 Bloomingdale stores and at least 30 new Bluemercury stores in new and existing locations. The plans to open 30 additional small-format stores away from shopping malls through the fall of 2025, announced last October, have remained unchanged....

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