Macy’s has confirmed the closure of 66 stores as part of its “Bold New Chapter” strategy, which aims to drive sustainable growth.

The company plans to close about 150 underperforming locations over three years, while focusing on 350 “go-forward” stores.

CEO Tony Spring explained that these closures are necessary to prioritize resources for stores showing positive customer response.

Since the strategy’s launch, pilot store investments have led to sales growth and record customer satisfaction, Yahoo Finance has reported.

Macy’s also plans to enhance its store portfolio and digital presence in 2025, following a decline in sales in the third quarter of fiscal year 2024.

Written by B.C. Begley