Macy's announces 150 stores to close by 2026
The Macys logo is seen outside a shop in Washington, DC, on July 25, 2019. (Photo by Alastair Pike / AFP) (Photo credit should read ALASTAIR PIKE/AFP via Getty Images)
(FOX 9) - Macy’s is planning to close 150 underperforming stores across the country.
The department store made the announcement Tuesday saying the closures will happen over the next three years, but 50 of those stores will close by the end of 2024.
"A Bold New Chapter serves as a strong call to action. It challenges the status quo to create a more modern Macy’s, Inc. We are making the necessary moves to reinvigorate relationships with our customers through improved shopping experiences, relevant assortments and compelling value," CEO Tony Spring said in a statement. "Our teams are energized by the work ahead as we accelerate our path to market share gains, sustainable, profitable growth and value creation for our shareholders."
Macy’s has not announced what stores will be closing, but there are currently 11 stores in Minnesota, including locations in Bloomington, Burnsville, Edina, Maplewood, Minnetonka, Rochester, Roseville, and St. Cloud, according to its website.
Macy’s says it plans to upgrade its remaining 350 stores and add approximately 45 Bloomingdales and Bluemercury locations but did not say where.