166-year-old US retail giant Macy’s announces major store closures

Macy’s, one of the most iconic retail chains in the United States, announced the closure of 66 stores nationwide in the first few months of 2025.

These closures are part of the company’s “Bold New Chapter” strategy, which was first unveiled in February 2024.

In a statement released on Jan. 9, Macy’s emphasized that the plan aims to achieve sustainable and profitable sales growth by closing approximately 150 underperforming stores over three years.

The company plans to simultaneously invest in its 350 priority stores, referred to as “go-forward Macy’s locations,” through fiscal 2026.

“Closing any store is never easy, but as part of our Bold New Chapter strategy, we are focusing resources and prioritizing investments in our go-forward stores, where customers are already responding positively to better product offerings and elevated service,” Macy’s Chairman and CEO Tony Spring said.

Macy’s stock value drops following new strategy shift

Despite the optimism surrounding the Bold New Chapter strategy, Macy’s has faced challenges. Since the strategy’s announcement, the company’s stock has declined by approximately 15%, failing to generate the expected positive market response.

Founded in 1858, Macy’s operates 521 stores across the United States and remains a key player in the country’s retail industry.