"On Thursday, Macy's published a letter from CEO Tony Spring to its employees updating them on the company's "A Bold New Chapter" strategy, which the department store chain unveiled in February 2024. As part of that strategy, Macy's announced at the time that it would be closing 150 "underproductive" stores through the end of 2026. Fast Company previously reported on 66 stores marked for closure in January 2025."
"As a point used to highlight the A Bold New Chapter's success, Spring said that the strategy's "Reimagine" element, which is seeing Macy's invest in 125 of its best-performing stores, was paying off. Those stores saw comparative sales grow 2.7% in the third quarter, which Spring said was the result of investment in those stores' "elevated merchandising, store design, and customer experience.""
"Unfortunately for some Macy's employees, Spring also confirmed that the next round of store closures is beginning now. How many Macy's stores are closing? Spring's memo confirmed that Macy's will close additional stores. Axios reported earlier that 14 stores that are closing in this round, and those store locations have also been marked with the notation "This location is closing" on Macy's store locator tool."
Macy's launched a strategy called "A Bold New Chapter" focused on simplifying operations and investing in customer experiences. The plan targets the closure of 150 underproductive stores by the end of 2026 while investing in 125 top-performing stores through a 'Reimagine' initiative. Reimagined stores recorded 2.7% comparative sales growth in the third quarter, alongside record Net Promoter Scores and improved results across the first three quarters. The next round of closures begins now, with 14 Macy's locations in 12 states marked as closing on the store locator and believed to be part of the 150 planned shutdowns, affecting employees at those sites.
Read at Fast Company
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