168-year-old mall anchor closing more stores

The wide maturation was modest, 1.3% for the afloat year, but the fig of radical visiting malls did climb, but shoppers favored immoderate malls implicit others.

“Over the years, arsenic enclosed malls person evolved, it turns retired that the A malls are doing highly well, and C and D malls are accelerating to extinction,” Chris Conlon, CEO of WPG, formerly known arsenic Washington Prime Group, told Retail Dive.

As the promenade scenery has changed, retailers that utilized to run astatine each tiers of malls person been forced to standard back. Macy's has a program to adjacent astir 150 stores, and has already closed 66 struggling locations.

Now, its latest circular of closures has been made public.

Macy's CEO Tony Spring shared an update connected the chain's "Bold New Chapter" turnaround program successful January.

"Nearly 2 years into our Bold New Chapter strategy, the absorption of our enactment remains the same: fortify our stores, simplify however we operate, and put successful the experiences that substance astir to our customers. Today, that enactment is centered connected disciplined execution and continuous improvement, with strategical investments that are guided by what customers worth most," helium wrote successful an unfastened missive to employees.

He noted that store closures stay a cardinal portion of the plan.

"In executing our strategy, we proceed to reappraisal our portfolio and marque cautious decisions astir wherever and however we invest, including closing underproductive stores and streamlining operations. These decisions are not made lightly," helium added.

Macy's latest circular of closures includes 14 stores successful 12 states.

• 5500 Grossmont Center Dr., La Mesa, California

• 3400 Naglee Rd., Tracy, California

• 4880 Briarcliff Rd. NE, Atlanta, Georgia

• 7900 Ritchie Hwy., Glen Burnie, Maryland

• 3850 Rivertown Pkwy. SW, Grandville, Michigan

• 4101 W Division St., Saint Cloud, Minnesota

• 50 Fox Run Rd., Newington, New Hampshire

• 112 Eisenhower Pkwy., Livingston, New Jersey

• 225 Interstate Shopping Center, Ramsey, New Jersey

• 1255 Niagara Falls Blvd., Amherst, New York

• 3801 Sumner Blvd., Raleigh, North Carolina

• 100 Pittsburgh Mills Cir., Tarentum, Pennsylvania

• 5488 South Padre Island Dr., Corpus Christi, Texas

• 17855 Southcenter Pkwy., Tukwila, Washington
  Source: USA Today

GlobalData Managing Director Neil Saunders was not benignant successful sharing his sentiment connected wherefore Macy's needs heavy cuts to its fleet of stores.

"That Macy’s has to adjacent truthful galore stores is due to the fact that the concern has been neglected for truthful long. Over the years, it failed to put successful shops, failed to germinate the proposition, failed to respond to competition, and failed to prune its existent estate. Amputation is present a indispensable evil to chopped retired the rot," helium wrote connected RetailWire.

Lisa Goller, a retail adept and RetailWire Brain Trust member, does spot the changes arsenic smart.

"Macy’s is astute to rightsize by deciding to adjacent underperforming stores, upgrade remaining stores, and put successful small, off-mall locations. Times person changed, and its assets allocation needs to change, too," she posted.

More Retail:

• Costco sees large displacement successful subordinate behavior

• Retail concatenation shuts each locations arsenic ineligible changes deed industry

• Lululemon struggles to reverse concerning lawsuit behavior

Patricia Vekich Waldron, a retail selling adept with decades of experience, is not assured successful Macy's turnaround plan.

"It’s hard for maine to person immoderate level of assurance that Macy’s volition crook around, adjacent with a renewed absorption and a caller leader. Particularly fixed that the caller CEO is simply a lifelong Macy’s vocation man, who has been successful spot during the erstwhile initiatives," she shared.

"The stores acceptable to adjacent correspond astir a 4th of gross quadrate footage successful 2023 but little than 10% of sales. The remaining 350 Macy’s locations outperformed non-go-forward locations by 500 ground points successful comparable-store income and by 950 ground points successful four-wall adjusted EBITDA rate, Spring noted successful the company’s fourth-quarter 2023 net call.

• Macy’s closing 150 stores done 2026 (original plan): This is portion of the chain's broader, Bold New Chapter" turnaround plan, according to Forbes.

• Macy’s confirms 66 store closures (2025): The institution has been steadily enacting its plan, according to a press release.

• Macy’s store closures database and FAQ page: Information and timelines connected circumstantial store closures.

Related: Struggling 55-year-old sit-down burger concatenation closing restaurants

This communicative was primitively published by TheStreet connected Feb 28, 2026, wherever it archetypal appeared successful the Retail section. Add TheStreet arsenic a Preferred Source by clicking here.