Macy's to close these stores in NY, NJ

Macy's closing stores as focus shifts

Macy?s will close 150 unproductive namesake stores over the next three years, including 50 by year-end. The company made the announcement Tuesday after posting a fourth-quarter loss and declining sales. As part of the strategy, Macy?s aims to upgrade its remaining 350 stores, with plans to add more salespeople to fitting areas and shoe departments, while adding more visual displays like mannequins. At the same time the company signaled a pivot to luxury, which has fared better overall.

NEW YORK - Another round of retail closures is hitting the tri-state area. Macy’s announced it will shut down more than a dozen additional stores in 2026, including locations in New York and New Jersey, as the department store chain accelerates plans to close underperforming sites nationwide.

What we know:

Approximately 14 stores are slated to close during the first fiscal quarter as part of its "Bold New Chapter" turnaround strategy, which includes shuttering about 150 underperforming locations by the end of 2026.

Macy's CEO Tony Spring said in a letter to employees last week that the company will continue to review its portfolio, which includes continuing to close underprodcutive stores and streamlining operations.

The flagship Macy's store in Manhattan's Herald Square. (FOX5NY)

MACY’S TURNAROUND SHOWS PROMISE AS SALES CLIMB TO HIGHEST LEVEL IN OVER 3 YEARS

Macy's, once a leading department store, was forced to implement a strategy that included shuttering about 150 stores by the end of 2026, to return it to "sustainable, profitable sales."

However, in recent years, Macy's had long been struggling to keep up with rapid industry changes and relentless competition, and its sales started to lag.

While the company is continuing to shutter certain stores, it is simultaneously investing in its 125 "Reimagine" stores, which are a key piece to its turnaround, and have already seen an uptick in sales.

The company has focused on boosting staffing, store design and customer experience at these 125 locations. Sales at those stores rose 2.7% year over year in the third quarter, "proving the success of elevated merchandising, store design, and customer experience investments," according to Spring.

HOW MACY’S CAN TURN AROUND ITS BUSINESS AS DEPARTMENT STORE STRUGGLES

Macy's turnaround has already shown progress. In December, Macy's reported that its sales reached their highest level in more than three years, marking a major step forward in its turnaround effort.

Macy's highlighted two measures of progress in its latest report covering a three-month period ending Nov. 1. Sales at the stores it plans to keep open rose for the second straight quarter, while sales across the broader Macy’s brand, including all stores and its website, grew at the fastest pace in 13 quarters.

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