Macy's will close 150 of its US stores, but will expand its Bloomingdale's and Bluemercury chains

Macy's plans to close about 150 of its stores over the next three years as part of a strategy change. The retailer's new policy now leans more heavily on luxury chains Bloomingdale's and Bluemercury, reports FOXBusiness.

Photo: iStock.com/jetcityimage

The company announced the news publicly on Feb. 27, noting that Macy's is opening a "new chapter" with new CEO Tony Spring.

By 2026, the 150 store closures will leave only 350 Macy's U.S. locations, but the company will add approximately 45 Bloomingdale's and Bluemercury stores.

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Macy's said it intends to close unprofitable stores. At least 50 of them will fall into oblivion this financial year, the rest by the end of 2026.

In mid-January, the company had already closed five branches and laid off approximately 2350 workers (3,5% of the company's total workforce).

The retailer is developing a policy of small-format retail space. The company has opened 30 small stores throughout the United States. These new outlets are approximately one-fifth the size of its traditional branches.

Large retailers have lost their edge in recent years. The COVID-19 pandemic has dealt a blow to iconic companies like JC Penney and Neiman Marcus. They went bankrupt in 2020.

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