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Across the board, department stores are doing what they can to stay afloat. Nordstrom is closing locations, JCPenney is merging with other formerly bankrupt mall stores, and Lord & Taylor is strategizing a digital comeback. In the case of Macy's, the retailer announced in December that it would close 66 underperforming stores in early 2025 after third-quarter sales were down 2.4 percent from the previous year. Now, the company has released the locations on the chopping block—is yours on the list?
RELATED: JCPenney Is Making a Comeback—Here's What Shoppers Can Expect This Year.
In early 2024, Macy's publicized its strategic plan, "A Bold New Chapter." It involves closing approximately 150 "underproductive" Macy's stores by the end of 2026. Originally, the plan was for 50 of these locations to shut their doors by Jan. 2025, but in Dec. 2024, the company brought that number up to 66.
"At the start of the closure strategy said we had locations that were less profitable and less productive, and we wanted to monetize them as soon as possible," explained Macy's chairman and CEO Tony Spring in a third-quarter earnings call last month. "So, the fact that we are closing more stores this year is a reflection of the fact that our assets have value and that even in this less stable market, we are transacting."
RELATED: Nordstrom Is Closing More Stores Despite $6B Deal to Go Private.
On Jan. 9, 2025, Macy's officially released the list of the 66 stores set to close this year. They are as follows. Those with an asteriks are expected to commence going-out-of-business sales in the first quarter of 2025.
West Orange: Essex Green Shopping Center
It's not all bad news for Macy's, though. It's Bold New Chapter strategy includes additional investments in what it's calling 350 go-forward locations, as well as in new small-format stores.
Additionally, Macy's plans to "accelerate luxury growth" in its other brands. This includes opening 15 new Bloomingdale’s stores and at least 30 new Bluemercury stores by the end of 2026.