The department store plans to eventually close 150 locations as part of its “Bold New Chapter” initiative
NEED TO KNOW
- Macy’s announced the closure of 14 stores across 12 states
- The company plans to eventually close 150 department stores as part of its “Bold New Chapter” initiative
- “In executing our strategy, we continue to review our portfolio and make careful decisions about where and how we invest, including closing underproductive stores and streamlining operations,” Macy’s CEO Tony Spring wrote to employees
Macy’s is shutting the doors to over a dozen stores across the country.
On Jan. 9, the department store announced that it would be closing 14 stores in the United States as part of its promised initiative from February 2024 to close 150 stores by the end of 2026.
“Macy’s, Inc. continues to execute its Bold New Chapter strategy, making targeted adjustments to its store footprint to better serve customers and support long-term growth,” the company said in a statement, per USA Today. “These actions allow us to reinvest in go-forward stores and digital capabilities.”…