In a news release on Tuesday, Macy’s revealed plans for a significant realignment effort, which includes the closure of 150 stores by 2026. This move represents approximately 30% of its total store count, with the aim of directing investments toward 350 “go-forward” stores. Additionally, the retailer intends to shutter 50 of these locations by the conclusion of the current fiscal year.
Termed “A Bold New Chapter” by Macy’s, this initiative is designed to streamline operations and refocus resources on key areas. Macy’s CEO, Tony Spring, described the strategy as a decisive step towards creating a more modern and customer-centric retail experience.
“A Bold New Chapter serves as a strong call to action. It challenges the status quo to create a more modern Macy’s, Inc,” stated Spring. “We are making the necessary moves to reinvigorate relationships with our customers through improved shopping experiences, relevant assortments, and compelling value.”
With this strategic pivot, Macy’s aims to adapt to evolving consumer preferences and enhance its competitive position in the retail landscape.
