Is Macy’s Closing Stores? Is It Going Out Of Business in 2024?

Many big companies are closing stores, and Macy’s recently announced the closing of a few bunch of stores as a part of the strategy they announced in 2020.

If you want to see the list of Macy’s closing stores and want to find out why this big retail chain has decided to close stores, then keep on reading!

List of Macy's Closing Stores

Is Macy’s Closing Stores in 2023?

Yes, Macy’s has decided to close four more stores this year in 2023 as a part of its three-year restructuring plan or Polaris strategy announced in 2020.

At that time, Macy’s confirmed that they would be closing 125 least productive Macy’s stores, and after this decision, Macy’s started closing stores in 2020, 2021, and 2022.

This year they are all set to close four more stores, the names, and locations of which you can find below.

Why Is Macy’s Closing Stores in 2023?

The managing director of Macy’s said that “Macy’s still has a lot of sub-optimal stores that will probably perform badly as the consumer economy tightens.

As a result, Macy’s is set to close a handful of its underperforming locations because it wants to “optimize and reposition” its mix of off-mall and mall locations.

And as a part of the strategy, they are not only closing stores but are also opening smaller format stores and new off-mall stores.

Customers can enjoy the clearance sale that they started in January, which is expected to last for eight to twelve weeks.

Is Macy’s Closing Stores Permanently?

Yes, Macy’s announced that it would be closing 125 of its stores permanently and is closing 4 stores in 2023.

Jeff Gennette, the CEO of Macy’s, stated that “lower costs, bring teams closer together, and reduce duplicative work.” 

Macy’s also announced that the employees affected by the closing stores would be offered severance packages or roles at a nearby outlet.

List of 4 Macy’s Closing Stores in 2023

Here’s a list of Macy’s Closing stores in 2023:

California Macy’s store closing

  • Los Angeles: Baldwin Hills Crenshaw Plaza, 4005 Crenshaw Blvd.

Hawaii Macy’s store closure

  • Kaneohe: Windward Center (Oahu), 46-056 Kamehameha Highway.

Colorado Macy’s closing store

  • Fort Collins: Foothills Mall, 215 E Foothills Parkway.

Maryland Macy’s store closing

  • Gaithersburg: Lakeforest Mall, 701 Russell Ave.

Wrap Up

Macy’s has been closing stores since 2020 as a part of their Polaris strategy. It closed stores in 2020, 2021, 2022, including the most recent closure of seven stores last year in 2022.

Even this year, in 2023, they are all set to close four more stores.

The move comes after the retail chain’s decision to experiment with opening trendier and smaller concept stores called Market by Macy’s, 

Those who want to check out the list of Macy’s closing stores in 2023 can refer to the article above. 

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