By Daily Mail (U.S.) | Created at 2025-01-10 19:47:39 | Updated at 2025-01-10 22:39:18
3 hours ago
Macy's has named the first 66 of the 150 stores it is shutting as it desperately tries to revive its faltering business.
They will close over the next four to 12 months - but not before they have had clearance sales with up to 90 percent off. Discounts will start lower and ramp up towards the end.
Plans to shut shut 150 underperforming stores by the end of 2026 were first announced by the embattled retailer back in February last year. It will see store numbers cut by a third to 350.
'We are closing underproductive Macy's stores to allow us to focus our resources in our go–forward stores,' said Tony Spring, chairman and chief executive officer of Macy's.
As well as revamping the stores it is not closing, Macy’s also plans to expand its footprint with 15 new Bloomingdale’s and 30 new Bluemercury locations.
Across the board, Macy's saw sales fall last year. But bosses said the 50 that have already been revamped have seen sales rise.
Bosses kept the 66 doomed shops open through the holidays to let regular customers shop for Christmas and then allow time for closing down sales.
Those closing include the Kingston Collection mall in Massachusetts. See below for the full list.
Macy's now now expects to close 65 locations by the end of the year. Pictured is a previous closure in Houston in 2013
Macy's shares fell for most of 2024 amid falling sales across the board. But it did see sales rise at 50 stores that it has renovated
Initally, Macy's planned to close 55 in the first 12 months but stepped up its targets and settled on 66.
Once all 150 are shuttered, Macy's will be left with just 350 stores - a far cry from the peak of around 1,100 in 2008.
News of Macy's closures on Thursday came on the same day rival Kohl's said it is closing 27 locations across 14 states, the major department store announced Thursday.
Like many department stores, Macy's has been suffering from dwindling sales amid the stratospheric rise of online rivals and the demise of America's suburban malls.
Tony Spring was appointed CEO last year and announced a major turnaround effort.
Macy's has been dealing with an accounting scandal involving a single employee who hid over $150 million in delivery expenses. The company insists this was a one-off but admits the error has cost them $79 million in their full-year outlook.
Macy's is one of many retailers closing stores as the ongoing 'retail apocalypse' forces brick-and-mortar locations to grapple with rising theft and shrinking profit margins.
Up until mid-December, US retailers have shut 7,300 stores - up nearly 60 percent from 2023.
The most recent big retail bankruptcy was Container Store, which filed for Chapter 11 protection on December 22.
Earlier that month, Big Lots said it was beginning 'going out of business' sales at all its stores across the US, after filing for bankruptcy in September.
The company initially said it was closing all its 963 remaining locations, after a sale to a private equity firm fell through - but has since found an investor that should keep between 200 and 400 open.
Macy's has been hit by falling sales ahead of the traditional holiday shopping period
The company's stock is down 22 percent so far this year
The retailer recently revealed a lone employee hid more than $150 million in delivery expenses
Meanwhile after nearly four decades as a US retail institution, Party City announced last week it would close all of its 850 stores in coming weeks.
It also emerged in October that Walgreens will shutter more than 1,200 stores in bid to turn around struggling chain.
Meanwhile, Badcock Home Furniture & More said at the end of July it is closing all its 380 stores dotted around the South after it fell into bankruptcy earlier this year.
Dollar stores have been hit hard too, with 99 Cents Only announcing in April it would shutter all 371 of its locations across California, Texas, Arizona and Nevada.
Family Dollar has said it will shut 1,000 stores under its own banner and that of sister company Dollar Tree over the next three years.
All 66 Macy's stores shutting by the end of February - by state
Arizona
Mesa: Superstition Springs Center, 6535 E Southern Ave.
California
Chula Vista: Otay Ranch Town Center, 2015 Birch Road
Citrus Heights: Sunrise Mall, 6000 Sunrise Mall
Corte Madera: Village at Corte Madera, 1400 Redwood Highway
Los Angeles: Downtown LA Plaza, 750 W 7th St.
Newark: NewPark Mall, 200 Newpark Mall
Sacramento: Downtown Plaza, 414 K St.
San Diego: Mission Valley Home, 1555 Camino De La Reina
San Mateo: Hillsdale Furniture, 2838 South El Camino
Westminster: Westminster Mall, 300 Westminster Mall
Colorado
Centennial: Southglenn Furniture, 6797 South Vine Street (already closed)
Denver: The Shops at Northfield, 8298 E Northfield Blvd.
Florida
Altamonte Springs: Furniture, 820 West Town Parkway
Boca Raton: Furniture, 9339 Glades Rd (already closed)
Boynton Beach: Boynton Beach Mall, 801 N Congress Ave
Fort Lauderdale: Furniture, 4501 N. Federal Highway
Pembroke Pines: Furniture, 13640 Pines Blvd.
Sarasota: Westfield Siesta Key, former Southgate Mall, 3501 S Tamiami Trail
South Dade: Furniture, 13251 South Dixie Highway (already closed)
Tampa: West Shore Plaza, 298 Westshore Plaza
Georgia
Duluth: Furniture, Gwinnett Furniture, 3360 Ventura Parkway
Duluth: Gwinnett Place Mall, 2100 Pleasant Hill Road
Suwanee: Market by Macy's, Johns Creek Town Center, 3630 Peachtree Parkway
Idaho
Coeur d'Alene: Silver Lake Mall, 200 W Hanley Ave.
Illinois
Springfield: White Oaks Mall, 104 White Oaks Mall
Louisiana
Lafayette: Acadiana Mall, 5733 Johnston St.
Maryland
Bel Air: Harford Mall, 600 Baltimore Pike
Baltimore: Security Square Mall, 6901 Security Blvd.
Massachusetts
Kingston: Kingston Collection, 101 Kingston Collection Way
Michigan
Flint: Genesee Valley Center, 4600 Miller Road
Sterling Heights: Lakeside Mall, 14200 Lakeside Circle
Traverse City: Grand Traverse Mall, 3400 S Airport Road W
Troy: Oakland Mall, 500 W 14 Mile Road
Minnesota
Burnsville: Burnsville Center, 14251 Burnhaven Drive
Maplewood: Maplewood Mall, 3001 White Bear Ave.
Missouri
Kansas City: Metro North Mall, 400 NW Barry Road
St. Louis: South County Center, 10 S County Center Way
New Jersey
West Orange: Backstage Essex Green Shopping Center, 495 Prospect Avenue West
New York
Brooklyn Downtown: 422 Fulton St.
Brooklyn: Backstage Sheepshead Bay, 2027 Emmons Ave.
Bronx: Backstage Fordham Place, 404 East Fordham Road
Elmhurst: Backstage Queens Place, 88-01 Queens Blvd.
Huntington: Melville Mall, 834 Walt Whitman Road
New Hyde Park: Backstage Lake Success, 1526 Union Turnpike
Massapequa: Sunrise Mall, 400 Sunrise Mall
Rochester: Greece Ridge Center, 397 Greece Ridge Center
Staten Island: Furniture, 98 Richmond Hill Road
Ohio
Beavertown: Fairfield Commons, 2727 Fairfield Commons Blvd.
Toledo: Franklin Park, 5001 Monroe St.
Oregon
Hillsboro: The Streets of Tanasbourne, 2055 NE Allie Ave.
Salem: Salem Center, 400 High St. NE
Pennsylvania
Altoona: Logan Valley Mall, 5580 Goods Lane
Exton: Exton Square, 245 Exton Square Mall
Philadelphia: Center City, 1300 Market St.
Wilkes Barre: Wyoming Valley Mall, 59 Wyoming Valley Mall
Tennessee
Memphis: Oak Court, 4545 Poplar Ave.
Texas
Dallas: Market by Macy's, Southlake Town Square, 321 State Street
Flower Mound: Market by Macy's, Highlands of Flower Mound, 6101 Long Prairie Road
Fort Worth: Market by Macy's, West Bend, 1751 River Run
Houston: Almeda Mall, 100 Almeda Mall
Plano: The Shops at Willow Bend, 6209 W Park Blvd.
Fairview: Village at Fairview, 201 Stacy Road
Virginia
Colonial Heights: Southpark Mall, 170 Southpark Circle
Washington
Puyallup: South Hill Mall, 3500 S Meridian
Redmond: Furniture, 15340 NE 24th Street
Silverdale: Kitsap Mall, 10315 Silverdale Way NW
