Macy's adds to list of store closures, says it will close 65 this year
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.
Is Macy’s Closing? Inside the Mass Store Closures
Despite the store closures, Macy’s remains a major player in the retail world. As of December 11, 2024, the company reported on its website $4.7 billion in net sales for the year, reflecting a 2.4% decrease compared to the previous year.
Major department store to close 65 stores by January 2025, up from 50
The retail giant has not revealed which stores will close but notes the closures will happen post-holiday season.
Macy's to close 15 more stores than planned, total of 65 to shutter by end of January 2025
Macy's revealed the news during a Q3 earnings call, which had been delayed after an employee was accused of hiding $151 million.
Macy’s is closing more stores nationwide: The list continues to grow
Macy’s is expanding its number of store closures nationwide from 55 locations to 65 locations by the end of Fiscal Year 2024. The increase comes as part of the company’s cost-saving initiatives and “A Bold New Chapter,
Macy's store closings: More stores expected to close by end of 2024, retailer says
According to Macy's, the additional store closures are in line with the retailer's plan for "accelerating luxury growth."
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