Macy's Unveils New Chapter with 150 Store Closures and Luxury Focus

Macy's Inc. announces a bold new strategy focusing on luxury and beauty brands, closing underproductive locations, and investing in smaller stores.

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NNN Beast - Net Lease News
February 28, 2024

Estimated read time: 3 minutes and 15 seconds

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  • Macy's Unveils New Chapter with 150 Store Closures and Luxury Focus

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NEW YEAR NEW ME

Macy's Unveils New Chapter with 150 Store Closures and Luxury Focus (Read More)

Macy’s

Automation Adjustments: Upcoming Store Closures: Macy's plans selective closures to enhance performance.

  • Approximately 150 underproductive Macy's locations to close.

  • Focus on investment in around 350 key nameplate locations.

Expansion Initiatives: Luxury & Beauty Brands: Macy's strengthens luxury and beauty presence.

  • About 15 Bloomingdale's stores to open.

  • At least 30 Bluemercury stores planned in the next three years.

Location Speculations: Flagship Closure Prediction: Macy's possibly closing its Union Square flagship in San Francisco.

  • Plans include the closure of the 400,000-sq.-ft. flagship.

  • Store will remain operational until a buyer is found.

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