The retail landscape in New York is undergoing a significant transformation in 2026. Following a turbulent few years of shifting consumer habits, rising theft, and operational costs, several retail giants are consolidating their footprints.
While some closures are part of long-term bankruptcy proceedings, others are strategic moves to pivot away from underperforming brick-and-mortar locations.
Here are 6 major retail chains that are closing doors in New York this year.
1. Macy’s
The iconic department store is continuing its “Bold New Chapter” strategy, which involves closing 150 “underproductive” locations through 2026. While Macy’s is upgrading its remaining 350 stores, the cuts are deep.
- The Impact: New York is directly affected in the latest wave of closures. Specifically, the location at Boulevard Mall in Amherst, NY (1255 Niagara Falls Blvd) has been identified for closure in early 2026.
- The Goal: The company is focusing on its stronger locations and expanding its smaller-format stores and luxury brands like Bloomingdale’s and Bluemercury.
2. Rite Aid
After filing for Chapter 11 bankruptcy (for the second time) in late 2025, the Philadelphia-based pharmacy chain is in the final stages of a massive restructuring that involves exiting the New York market almost entirely.
- The Impact: Reports from January 2026 indicate that most remaining Rite Aid locations in New York are expected to shutter within the first three months of the year. This follows the closure of hundreds of stores across the Northeast.
- What to know: If you have prescriptions at a remaining Rite Aid, you should expect to transfer them to alternative pharmacies like CVS or Walgreens soon.
3. Walgreens / Duane Reade
Walgreens (which owns Duane Reade) announced a plan last year to close approximately 1,200 stores over three years. That plan is active and impacting New York neighborhoods heavily in 2026.
- The Impact: The chain has been quietly closing locations across the state, including spots in Rochester, Ellenville, and New York City.
- The Reason: The company has cited profitability issues with roughly 25% of its stores, driven by reimbursement rate pressures and competitive challenges.
4. Family Dollar
Parent company Dollar Tree Inc. is in the midst of closing nearly 1,000 Family Dollar stores. While many closed in 2024 and 2025, the closures are rolling into 2026 as leases expire.
- The Impact: The Olean, NY location (461 N. Union St) is set to close its doors in February 2026. This is part of a broader culling of underperforming locations across the state.
- The Shift: The company is converting some locations to the “Dollar Tree” brand but is largely cutting losses on stores that haven’t recovered from inflation-related sales dips.
5. T.J. Maxx & Marshalls (TJX Companies)
While TJX Companies is generally performing well financially, they are not immune to real estate strategy shifts. The discount retailer is closing specific urban locations in New York at the start of 2026.
- The Impact:
- Brooklyn: The T.J. Maxx at 503 Fulton Street is closing in January.
- The Bronx: The Marshalls on Exterior Street is also shuttering this month.
- The Reason: These closures are attributed to specific lease endings and individual store performance rather than a company-wide bankruptcy.
6. REI (Recreational Equipment, Inc.)
The outdoor co-op is adjusting its presence in major cities, citing changing market conditions and operational costs.
- The Impact: REI has confirmed plans to close its SoHo flagship location in New York City later in 2026.
- The Context: This move mirrors similar closures in other major metros like Boston, as the retailer re-evaluates its large-format urban stores.
Summary of Closures
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