Current:Home > MyMacy's to shut down 150 'underproductive' store locations by 2026, company announces-LoTradeCoin
Macy's to shut down 150 'underproductive' store locations by 2026, company announces
View Date:2024-12-26 01:25:47
Macy's will be shutting down 150 stores in a realignment effort, the retailer announced in a news release Tuesday.
By 2026, Macy's says it will shut down 150 "underproductive" stores, or roughly 30% of all locations, while prioritizing investments in 350 "go-forward" stores. It says it will close 50 stores by the end of this fiscal year.
The statement says this move − dubbed by Macy's as "A Bold New Chapter" − will allow it to refocus its resources and prioritize other stores.
“A Bold New Chapter serves as a strong call to action. It challenges the status quo to create a more modern Macy’s, Inc," said Tony Spring, Macy’s CEO, in a statement. "We are making the necessary moves to reinvigorate relationships with our customers through improved shopping experiences, relevant assortments and compelling value."
"Our teams are energized by the work ahead as we accelerate our path to market share gains, sustainable, profitable growth and value creation for our shareholders," said Spring.
Is there a list of Macy's stores closing?
Macy's did not share which locations would be closing when contacted by USA TODAY.
Company expanding Bloomingdale’s, Bluemercury
Despite the shuttered Macy's locations, the company says it also wants to expand Bloomingdale’s and Bluemercury by 45 locations altogether, signaling increased investment in the luxury sector.
The company announced plans for about 15 Bloomingdale's stores and at least 30 Bluemercury locations in the next three years. About 30 Bluemercury stores are set for remodeling, as well.
Julia is a trending reporter for USA TODAY. She has covered various topics, from local businesses and government in her hometown, Miami, to tech and pop culture.
You can follow her on X, formerly known as Twitter, Instagram and TikTok: @juliamariegz.
veryGood! (46978)
Related
- Supreme Court seems likely to allow class action to proceed against tech company Nvidia
- Ashton Kutcher Resigns as Chairman of Anti-Child Sex Abuse Organization After Danny Masterson Letter
- 'Substantial bruising': Texas high school principal arrested on assault charge in paddling
- Mexico quarterback Diana Flores is leading a movement for women in flag football
- Beyoncé has released lots of new products. Here's a Beyhive gift guide for the holidays
- Iowa man is found guilty in death of 10-year-old girl whose disappearance prompted a huge search
- Norfolk Southern CEO promises to keep improving safety on the railroad based on consultant’s report
- See Ariana Madix Lay Down the Law in Trailer for Her First Acting Role Since Scandoval
- What that 'Disclaimer' twist says about the misogyny in all of us
- Maryland’s schools superintendent withdraws his request to extend his contract
Ranking
- Homes of Chiefs’ quarterback Mahomes and tight end Kelce were broken into last month
- Cara Delevingne Channels Her Inner Rockstar With a Colorful, Spiky Hair Transformation
- Special counsel seeks 'narrowly tailored' gag order against Trump
- Biden says striking UAW workers deserve fair share of the benefits they help create for automakers
- What Republicans are saying about Matt Gaetz’s nomination for attorney general
- Ashton Kutcher Resigns as Chairman of Anti-Child Sex Abuse Organization After Danny Masterson Letter
- Michigan basketball coach Juwan Howard has heart surgery, Phil Martelli is interim coach
- A look at notable impeachments in US history, including Texas Attorney General Ken Paxton
Recommendation
-
Steelers' Mike Tomlin shuts down Jayden Daniels Lamar comparison: 'That's Mr. Jackson'
-
Oops! I called my boss 'dude.' Career coaches weigh in on tricky workplace dilemmas
-
Baby dies at day care in New York City, 3 other children hospitalized
-
Moose tramples hiker along Colorado trail, officials remind hikers to keep safe distance
-
Video shows masked man’s apparent attempt to kidnap child in NYC; suspect arrested
-
As UAW strike begins, autoworkers want to 'play hardball'
-
How the UAW strike could have ripple effects across the economy
-
An Arizona homeowner called for help when he saw 3 rattlesnakes in his garage. It turned out there were 20.