Macy’s Closings in 2024: Even More Stores to Shut Down Than Originally Planned

During its second-quarter earnings press conference, Macy’s announced it would close 150 stores over the next few years. It also added that it would close 55 stores in 2024, down from 50 as the company had anticipated this year.

“We are pleased with the pace and quality of our deal activity and expect to close approximately 55 stores this year, compared with our previous expectation of approximately 50,” Chief Executive Tony Spring said on a second-quarter earnings conference call.

The store closures are the result of changing customer shopping preferences due to economic uncertainty and Macy’s identifying stores in its network that are underperforming.

The company has not yet revealed which stores will close this year or in the future.

There are currently 519 Macy’s stores in the country, excluding Macy’s-owned properties such as more than 150 Bluemercury stores and 56 Bloomingdale’s department stores.