Macy’s will close 66 stores across the United States

Macy’s, Inc. announced Thursday that it will close 66 stores across the United States as part of its ongoing “bold new chapter” strategy, a plan first unveiled in February 2024.

The closures, which represent roughly a third of its total locations, are part of the retailer’s broader effort to shutter approximately 150 underperforming stores over a three-year period.

Among the closures, company officials confirmed that Macy’s Backstage, the Essex Green Shopping Center location in West Orange, New Jersey, will be closed. That store, located at 459 Prospect Avenue, is one of the 28 Macy’s locations in the Garden State listed on the company’s website.

Remaining locations are in Bridgewater, Cherry Hill, Paramus, Edison, Moorestown, Lawrenceville, Rockaway, Hackensack, Short Hills, South Plainfield, and Wayne.

Tony Spring, Chairman and CEO of Macy’s, stated that while the decision to close any store is difficult, the move will allow the company to “focus its resources and prioritize investments” in its other locations.

The closures are expected to help streamline Macy’s operations as it adapts to shifting consumer behaviors and the ongoing evolution of the retail industry.

As part of the closure process, Macy’s will begin clearance sales at affected locations this month, which are set to run for up to 12 weeks.

Founded in 1929 as Federated Department Stores, Macy’s, Inc. has undergone significant transformations over the decades.

The company has operated under various regional brand names, such as Abraham & Straus, Lazarus, and Filene’s, before consolidating its operations under the Macy’s and Bloomingdale’s banners following its acquisition of the May Department Stores Company in 2005. Macy’s was renamed Macy’s, Inc. in 2007, reflecting the enduring legacy of its flagship brand.

As of October 2022, Macy’s, Inc. operates 722 locations across the United States, Puerto Rico, and Guam. Despite challenges in the retail sector, including the growth of e-commerce and changing shopping habits, Macy’s continues to focus on adapting its business model to remain competitive.

The planned closures are part of a broader trend within the retail industry, as many companies look to reduce their physical footprints while increasing investments in online and omnichannel retail strategies.

Macy’s has not disclosed specific details regarding which locations will close but has emphasized its commitment to maintaining a strong presence in key markets.

Macy’s has been a staple in American retail for more than a century, but like many brick-and-mortar retailers, it faces significant challenges as consumer shopping preferences evolve.

The closures are seen as part of the company’s ongoing efforts to navigate these changes and position itself for long-term success in a rapidly shifting retail landscape.