Macy's to Close 150 Underperforming Stores, Shift Focus to Luxury Brands

Macy’s announced it will close 150 locations over the next three years. The department store company based in the United States said the stores are those outlets that are not performing well in the business.

Macy’s said it expects to shutter about 50 branches by the end of this year. With the impending closures, the employment of its staff is now uncertain.

Macy’s Washington Locations

The Seattle Times reported that Macy’s currently runs stores in 15 cities in Washington, including Redmond, Tukwila, Bellevue, and Lynnwood. The company was said to have declined to say if any of the branches in this region is affected by the closure plans. Moreover, it is unclear if any of the 22 locations in Washington are underperforming, so there is no way of knowing if they are on the list for the shutdown.

At any rate, three stores in Bellingham, Lynnwood, and Tukwila are represented by the United Food and Commercial Workers 3000 union. Thus, if Macy’s will close these outlets, the union said it is prepared to protect its members’ rights.

Turnaround Plan: Shift of Focus to Bloomingdale and Bluemercury Stores

Meanwhile, Macy’s unveiled its new turnaround strategy, “A Bold New Chapter.” While it will cease operations of its namesake stores, the company will shift its focus to Bloomingdale and Bluemercury stores.

The department store company will open 45 new luxury brand locations as part of the plan. It is hoped that the stores will all be completed by 2026. The firm will increase investments for the remaining 350 Macy’s outlets to upgrade them all.

“A Bold New Chapter serves as a strong call to action. It challenges the status quo to create a more modern Macy’s, Inc.,” Macy’s chief executive officer, Tony Spring, said in a press release. “We are making the necessary moves to reinvigorate relationships with our customers through improved shopping experiences, relevant assortments, and compelling value.”

The CEO added, “Our teams are energized by the work ahead as we accelerate our path to market share gains, sustainable, profitable growth, and value creation for our shareholders.”

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