Macy's Plans to Close 66 Stores Nationwide

Macy's has announced the closure of 66 stores nationwide, as part of its 'Bold New Chapter' strategy aimed at improving profitability by shutting down underperforming locations and focusing on 350 'go-forward' stores. Among the closures, nine stores in California, including locations in the Bay Area, will shut down by February. In New York, nearly ten stores, including the downtown Brooklyn location, are slated for closure, along with one store in New Jersey. The closures are part of a larger plan to close 150 stores over three years, with the expectation that this will allow for investments in more successful locations. Macy's CEO emphasized the necessity of these closures to prioritize resources where customer engagement is stronger. The retail giant is also expanding its upscale Bloomingdale's and Bluemercury brands amid these changes.