Macy’s Announces Store Changes and Closures as It Focuses on Growth Strategies

Macy’s: Closures and Investments

• The company plans to close approximately 150 underproductive Macy’s stores, including 50, by early 2025. Specific locations have not been disclosed yet.
• Macy’s will increase investments in the remaining 350 namesake locations, focusing on customer service improvements and testing new strategies in select stores.
• Macy’s is pursuing the strategy of opening smaller stores in suburban strip malls, with plans to open up to 30 of these smaller-format Macy’s stores over the next two years.

Bloomingdale’s: Expansion Plans

• Bloomingdale’s, the higher-end department store brand, will open about 15 new stores over the next three years. Some locations will be in new markets, expanding its presence.
• Bloomingdale’s has been testing a smaller concept store, Bloomie’s, catering to higher-income and fashion-forward shoppers.

Bluemercury: Growth in the Beauty Segment

• Bluemercury, the beauty chain under Macy’s, has been a standout performer. It will open at least 30 new stores and remodel around 30 existing stores over the next three years.
• Bluemercury has been testing a new store prototype with expanded spa services, reflecting the brand’s commitment to innovation in the beauty segment.

The strategic changes align with Macy’s goal to optimise its store footprint, concentrating on profitable and high-performing segments. The adjustments come shortly after the appointment of former Bloomingdale’s CEO Tony Spring as Macy’s CEO on February 4, indicating a shift in the company’s overall strategy.