the staff of the Ridgewood blog
Paramus NJ, Macy’s, Inc. (NYSE: M) has confirmed the planned closure of 66 stores across the country including one in New Jersey in West Orange as part of its transformative “Bold New Chapter” strategy. This initiative, announced in February 2024, aims to drive sustainable, profitable growth by streamlining the company’s store portfolio and investing in key locations.
The Bold New Chapter Strategy
The strategy includes closing approximately 150 underperforming Macy’s stores over three years, while channeling resources into 350 thriving “go-forward” stores. These investments will extend through fiscal 2026, ensuring Macy’s delivers elevated service and better product offerings in its most successful locations.
The full list of the 66 Macy’s stores slated for closure can be found here.
Enhancing Customer Experience
Macy’s recognizes that today’s shoppers have countless options and demand seamless experiences both in-store and online. By focusing on its best-performing locations, Macy’s aims to deliver on customer expectations more effectively.
Tony Spring, Chairman and CEO of Macy’s, Inc., stated:
“Closing any store is never easy, but as part of our Bold New Chapter strategy, we are closing underproductive Macy’s stores to allow us to focus our resources and prioritize investments in our go–forward stores, where customers are already responding positively to better product offerings and elevated service.”
Success of Pilot Stores
Macy’s investments in its First 50 pilot stores have already paid off, driving sales increases for three consecutive quarters and setting new customer satisfaction records for the Macy’s nameplate. Building on this momentum, Macy’s enters 2025 with a stronger store fleet and a renewed commitment to enhancing the customer experience across its nationwide footprint and digital channels.
Looking Ahead
As Macy’s executes its Bold New Chapter strategy, the company is positioning itself for a more agile and sustainable future. With investments in high-performing locations and innovative digital channels, Macy’s is poised to meet the evolving needs of modern shoppers.
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