Department store giant Macy's says it will close more locations than it had originally planned. The chain now intends to close 65 stores by the end of January 2025. In a Q3 earning call Thursday, Macy's CEO Tony Spring announced the company would close 15 ...

Macy's said it will close 65 stores this year, an increase from the 50 locations it previously announced it would shutter by the end of the fiscal year. The closures are part of its plan to eliminate roughly 150 underperforming stores over the next three years.

The increased closures are part of Macy's strategy to accelerate the closure of "non-go-forward stores," which are underperforming locations. The company remains committed to closing a total of 150 underperforming locations by the end of the 2026.

Macy's will be closing more stores than previously announced earlier this year. According to the company's third quarter earnings report, the department store chain plans to close approximately 15 more locations after the holiday season,

In 1932, Macy's Tom Cat balloon got stuck in the propeller of a plane when the aviator flying the plane tried recovering the balloon for a reward. While the plane eventually landed safely, that event marked the final year of releasing balloons after the parades and offering prizes for their return to Macy's.

Macy's said its accelerating the number of stores it plans to close this year as it works to turn around the struggling business. It is aiming to close 150 stores in three years.

With its net sales down 2.4% year over year, the retail giant is closing even more underperforming stores, Macy’s shared in an earnings call. Macy’s CEO Tony Spring said Thursday on a Q3 earnings call that the retailer will close about 65 locations by the end of January 2025,

Macy's announced it will be closing around 65 locations after the holidays, around the time the department store's fiscal year ends.

According to Macy's, the additional store closures are in line with the retailer's plan for "accelerating luxury growth."