Why Macy's is shutting down dozens of stores across US
India TodayPopular US departmental store chain Macy’s has announced that it is planning to shut down as many as 65 stores by the end of January 2025, which is 15 more than previously planned, according to reports. Macy’s CFO Adrian Mitchell said that the closure of stores will be done in a strategic manner, with greater focus on locations that are not performing well. Macy’s strategy also includes opening and revamping stores, with plans to remodel 50 key stores, known as the "First 50," which are seen as models for future locations. Activist investor Barington Capital Group expressed support for Macy's plan, saying that closing low-productivity locations could lead to healthier stores and improve revenue and profits in the long run. The move to close stores is part of Macy’s efforts to adapt to changing retail trends and focus on profitable growth in an increasingly digital shopping environment.
History of this topic
Macy’s swings to a second quarter profit, but sales surprisingly weak as customers grow cautious
Associated PressA tale of two retailers: Target reverses sales slump while Macy’s reports another quarterly decline
Associated Press
Store closures are rocking the US market. Here’s the restaurants and retailers shutting their doors
The Independent
Macy's to close 150 stores but expand luxury Bloomingdale's, Bluemercury outlets
Hindustan TimesMacy's to close 150 stores and will open new Bloomingdale's locations
Associated Press
San Francisco’s iconic Union Square Macy’s will close
LA Times
Macy’s Simi Valley to close along with four other stores; 3.5% of workforce to be cut
LA TimesMacy’s is opening more small stores in the West and Northeast in a bid to lure new customers
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