Macy’s is closing 66 locations. See if your store is on the list

Macy’s is closing several dozen stores as part of a previously announced turnaround plan to save the beleaguered retailer.

Macy’s is closing several dozen stores as part of a previously announced turnaround plan to save the beleaguered retailer. Last year, Macy’s announced it was closing 150 underperforming stores by 2026, shrinking its footprint to about 350 locations when the plan is finished. The 66 store closings revealed Thursday are included in that multiyear initiative. But, until now, Macy’s had not publicized which stores were set to close. Macy’s CEO Tony Spring said in a press release that closing “any store is never easy,” but the locations chosen are “underproductive” for its so-called Bold New Chapter strategy, which includes a shift to chasing wealthier shoppers with its higher-end brands including Bloomingdale’s and Bluemercury. The retail industry has split in recent decades: Lower-end stores focused on cost-savings, such as Walmart, have done particularly well. But so have luxury brands as shoppers with means have been able to keep up their spending despite higher prices. Macy’s has been caught in the middle. The company is “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,” Spring said. The strategy is designed to fend off activist investors and boost the company’s sagging sales and stock. But Macy’s (M) shares have fallen about 15% since the plan was announced a year ago.