Macy's plans to close 66 stores by 2026 as part of its retail transformation strategy, expanding from the initial 50 stores announced earlier this year. This decision comes as the company shifts focus toward better-performing locations and modern retail formats.

Key Store Closures:

• Arlington, VA
• San Leandro, CA
• Multiple New York locations:
  • Fordham Place
  • Queens Place
  • Sheepshead Bay
  • Sunrise Mall
  • Staten Island Furniture

Additional closures will be announced in the coming months, with each location holding liquidation sales before closing permanently.

Reasons for Downsizing:

• 2.4% year-over-year revenue decline to $4.7 billion
• Declining foot traffic in aging mall locations
• Increasing competition from e-commerce
• Strategic shift toward modern retail formats

Future Investment Plans:

• Opening 30 smaller-format Macy's stores
• Adding 15 new Bloomingdale's locations
• Launching 30 Bluemercury beauty stores
• $600-700 million investment in upgrading 350 remaining stores

CEO Tony Spring explains: "This transformation is about aligning our assets with where customers are shopping and how they want to shop. The shopping experience can and should be better. This is how we win our customers back."

The company's strategy focuses on creating fewer but more efficient stores, supported by robust digital channels and specialty formats. While some communities will feel the impact of these closures, Macy's aims to position itself for sustainable long-term growth in today's evolving retail landscape.

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