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by: Charline Charles
Posted: Feb 27, 2024 / 09:41 AM EST
Updated: Feb 27, 2024 / 09:57 AM EST
NEW YORK CITY (PIX11) — Macy’s will be shuttering 150 store locations by the end of 2026, the retailer announced on Tuesday.
The retailer is set to shut down over a hundred “underproductive” locations to prioritize investments in 350 “go-forward” stores. Macy’s will also close 50 stores by the end of 2024. This is all under the retailer’s new strategy, “A Bold New Chapter,” the company shared.
“A Bold New Chapter serves as a strong call to action. It challenges the status quo to create a more modern Macy’s, Inc,” said Tony Spring, Macy’s chief executive officer on Tuesday. “We are making the necessary moves to reinvigorate relationships with our customers through improved shopping experiences, relevant assortments and compelling value.”
The company shared that it will focus on its Bloomingdale’s and Bluemercury brands, which have been “outperformers,” in the luxury market.
“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,” said Spring.
Charline Charles is a digital journalist from Brooklyn who has covered local news along with culture and arts in the New York City area since 2019. She joined PIX11 News in 2022. See more of her work here.
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https://pix11.com/news/local-news/macys-to-shutter-150-unproductive-locations-by-2026/
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