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Macy's plans to close 50 stores in 2024 and 150 locations in total by 2026. The department store chain will expand Bloomingdale’s and Bluemercury.
Macy's plans to close 50 stores in 2024 and 150 locations in total by 2026. The department store chain will expand Bloomingdale’s and Bluemercury.
The Macy's store on Herald Square is seen on Jan. 19, 2024, in New York City. (Michael M. Santiago/Getty Images) (Michael M. Santiago via Getty Images)
In February 2024, Macy's announced that up to 150 underperforming stores would close by the end of 2026, with 50 stores closing by the end of 2024. Macy's stated that the closing stores only represented 10% of its total sales.
On February 27, 2024, it was announced that Macy's would be closing this location as part of a plan to close 150 stores nationwide by the end of 2026. Macy's stated that the location would remain open until the property would be sold to a new owner. More than 400 employees will be impacted as part of the closure. [13]
The company is closing 150 underperforming stores — 50 by the end of 2024 and the other 100 over the next few years. By 2026, it will have just 350 Macy’s stores, the company announced.
Macy's rejected the offer in January 2024 citing the unsolicited offer to be undervalued. [34] The investor group increased their offer to $6.6 billion two months later. [35] In February 2024, Macy's announced it would close 150 stores by 2026. [36]
The stores will close in early 2024, Grams added. Macy’s is the middle of an effort to turn the roughly 166-year-old department store into a brand that resonates with consumers who are shopping ...