AIexpress – Macy’s, Inc. confirmed on Thursday, Jan. 9, the closure of 16 stores across Virginia, New Jersey, New York, Massachusetts, and Maryland as part of its “Bold New Chapter” strategy aimed at streamlining operations and driving sustainable growth.
These closures are part of a larger plan to shutter 66 stores nationwide, targeting underperforming locations to achieve “sustainable, profitable sales growth.” The affected stores in these states include:
Virginia:
- Southpark Mall
Pennsylvania:
- Logan Valley Mall
- Exton Square Mall
- Wyoming Valley Mall
New Jersey:
- Essex Green Shopping Center
New York:
- Lake Success
- Melville Mall
- Queens Place
- Sheepshead Bay
- Mall at Greece Ridge
- Sunrise Mall
- Brooklyn
- Staten Island Furniture
- Fordham Place
Massachusetts:
- Independence Mall
Maryland:
- Security Square
- Harford Mall
The closures are part of a broader initiative first unveiled in February 2024. Dubbed the Bold New Chapter strategy, Macy’s plans to close approximately 150 “underproductive” stores over three years while channeling investments into 350 “go-forward” locations. According to the company, these closures will be finalized during the first quarter of 2025.
Strategic Vision and Customer Focus
Tony Spring, Macy’s Chairman and CEO, emphasized the strategic rationale behind these moves. “Closing any store is never easy,” Spring stated. “But as part of our Bold New Chapter strategy, we are focusing our resources and prioritizing investments in go-forward stores, where customers are already responding positively to better product offerings and elevated service.”
The strategy has already yielded promising results, with Macy’s reporting three consecutive quarters of increased sales and record customer satisfaction scores in its pilot investment locations. By redirecting resources, Macy’s aims to adapt to evolving consumer preferences and modern shopping trends.
Investing in the Future
In addition to optimizing its physical presence, Macy’s is expanding its digital capabilities to offer a seamless shopping experience. The retailer has committed to enhancing both in-store and online platforms, ensuring customers can engage with the brand through their preferred channels.
For more information and a complete list of closures, visit Macy’s website.
