Macy’s increases its list of doomed locations to 65 stores by the end of January 2025
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With its net sales down 2.4% year over year, the retail giant is closing even more underperforming stores, Macy’s shared in an earnings call.
Macy’s CEO Tony Spring said Thursday on a Q3 earnings call that the retailer will close about 65 locations by the end of January 2025, which is an additional 15 stores more than what was previously planned. Adrian Mitchell, Macy’s chief financial officer, said the store closures were limited to underperforming locations.