Macy’s Unveils New Store Closures, Including Brooklyn and Staten Island Locations
Macy’s Inc. has announced the 66 store locations that it will be closing this year. Among this list is the Macy’s department store located in downtown Brooklyn.
In addition to this, the company will also be closing its Staten Island furniture store and the Macy’s Backstage off-price stores in Sheepshead Bay, Brooklyn; Fordham Place in the Bronx, and Queens Place in Queens which are all located in New York City.
The closing of these stores is part of Macy’s Bold New Chapter strategy which was launched in February 2024. It involves closing around 150 low-performing stores over a period of two years, while investing in its 350 more successful stores.
The company has also elevated its previously revealed target, increasing the number of store closings this year from 55 to 66. Other notable store closures include locations in Boynton Beach, Florida; Philadelphia City Center and Sunrise Mall, Massapequa, New York.
Tony Spring, chairman and chief executive officer at Macy’s Inc. stated “Closing any store is never easy, but as part of our Bold New Chapter strategy, we are closing underproductive Macy’s stores to allow us to focus our resources and prioritize investments in our go–forward stores, where customers are already responding positively to better product offerings and elevated service.”
Macy’s has also seen promising results from its Bold New Chapter strategy. Investments in their prioritized stores have reportedly resulted in increased sales for three consecutive quarters and improved customer satisfaction scores. This improvement was achieved by increasing staff in women’s fitting rooms, checkout areas and in the women’s shoes and handbags departments, improving visual merchandising, and adjusting their brand offerings.
In 2025, the company plans to implement its Bold New Chapter initiatives in additional stores. Furthermore, Macy’s private brand revamp, which comprises introducing new brands, enhancing existing ones, and eliminating underperforming labels, is nearly finalized, with a concentrate on home labels next.