MACY’S CEO Tony Spring has issued a blunt response regarding store shutdowns.
The mass closures come as part of the iconic department store chain’s Bold New Chapter initiative.
Jason Dixson 2025Macy’s CEO Tony Spring has issued a blunt response about store closures (stock image)[/caption] At least 150 locations will be axed by 2026Reuters/Jessica RinaldiWhile the plan is to focus on modernizing the brand and moving toward smaller-format locations over the next three years, that also means shedding the weight of underperforming, larger locations.
By the end of 2026, the Bold New Chapter will see the removal of 150 Macy’s stores from its nationwide footprint.
At least 66 have already shuttered this year to that end.
January saw widespread closures, with locations in Minnesota, Oregon, and several other states not operating as of March.
Spring emphasized during a May earnings call that as closures continue in year two of the three-year Bold New Chapter plan, there would be a “slight depression of sales.”
The CEO emphasized that word tends to get around among consumers when closures start to happen, causing inevitable uncertainty that affects sales performance.
“I would say just in terms of sales from store closures, you have the interesting impact, just to frame it for folks, that when the stores are closing, you have a slight depression of sales in the existing stores because of the going out of business communication in that environment,” he explained.
“And then, following, you start to see the recovery and opportunity to recapture.”
Spring added that Macy’s was “slightly ahead” of expectations on recapturing sales amid the continued closures.
He also noted, similar to another earnings call earlier in the year, that all 150 shutdowns would bring in an estimated $700 million for Macy’s.
REMODEL REWARDED
At least 350 of the department stores that will remain operational amid the Bold New Chapter are also getting remodeled.
The CEO noted that 125 have already been finished and were “outperforming the rest of the Macy’s fleet.”
Progress is also being made on the 30 smaller Macy’s stores opening, along with the 15 Bloomingdales and 30 Bluemercury stores.
Spring also noted while speaking at the National Federation’s Big Show this year that the shopping experience at Macy’s “can and should be better.”
Macy's Closures
Macy's has confirmed the 66 stores closing across 22 states in early 2025. The full list is included below:
Arizona
MesaCalifornia
Chula Vista Citrus Heights Corte Madera Los Angeles Newark San Diego WestminsterColorado
Centennial DenverFlorida
Altamonte Springs Furniture Boynton Beach Fort Lauderdale Furniture Pembroke Pines Furniture South Dade Furniture Sarasota TampaGeorgia
Duluth Furniture Duluth Suwanee Market by Macy’sIdaho
Coeur d’AleneIllinois
SpringfieldLouisiana
LafayetteMaryland
Bel Air BaltimoreMassachusetts
KingstonMichigan
Flint Sterling Heights Traverse City TroyMinnesota
Burnsville MaplewoodMissouri
Kansas City St. LouisNew Jersey
West OrangeNew York
Brooklyn Bronx Elmhurst Huntington New Hyde Park Massapequa Rochester Staten IslandOhio
Beavertown ToledoOregon
Hillsboro SalemPennsylvania
Altoona Exton Philadelphia Wilkes BarreTennessee
MemphisTexas
Dallas Market by Macy’s Flower Mound Market by Macy’s Fort Worth Market by Macy’s Houston Plano FairviewVirginia
Colonial HeightsWashington
Puyallup Redmond Furniture SilverdaleSource: Axios
According to Spring’s comments from this month’s earnings call, the company is already seeing a positive response from customers as those improvements have been made.
“Customers appreciate our renewed emphasis on the shopping experience and a commitment to providing relevant fashion and newness at a compelling value across the good, better, and best price spectrum,” he said.
Increased product assortment was of particular focus.
“Recently introduced contemporary apparel brands, Good American, Firi, and Nick and Zoe have been well received, and Coach and Donna Karan continue to resonate,” the CEO continued.
PRICING PAINS
There was also a significant change that could mean shoppers may no longer be able to buy their favorites.
Spring said Macy’s decided to cancel or delay its orders from China as a result of President Donald Trump’s global reciprocal tariffs.
About 20% of the company’s merchandise came from China in 2024, with 27% of private brands within Macy’s stores sourcing their goods from the country.
He also confirmed price hikes were imminent on certain merchandise to help mitigate the tariffs’ impact.
The CEO said the response was careful and “surgical,” and that the company remained intent on offering fair prices.
“It’s not a one-size-fits-all kind of approach,” he noted.
“There are going to be items that are the same price as they were a year ago. There is going to be, selectively, items that may be more expensive, and there are items we might not carry because the pricing doesn’t merit the quality or the perceived value by the consumer.”
At least five grocery essentials are also expected to have skyrocketing prices this year.
A breakfast favorite is one of the most affected, according to experts.
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