Macy’s announced this week it will close 150 stores in the next three years as part of its efforts to accelerate luxury growth, improve the customer experience and expand its other brands, including Bloomingdale’s and Bluemercury.
In a press statement, Macy’s said that at this time they are not sharing the list of stores slated to close. It is unclear whether the county’s two Macy’s locations–in Westfield Wheaton mall and Westfield Montgomery mall in Bethesda–will be impacted.
Zeina Davis, marketing director at Westfield Montgomery, and Michael Lado, marketing manager at Westfield Wheaton, referred MoCo360 to Macy’s corporate communications department for comment.
In an official statement, a Macy’s spokesperson said the closings will allow the company to “prioritize investments in the stores that will lead [Macy’s] to a healthier future.”
“Closing a store is never an easy decision,” the statement said. “We are committed to supporting our impacted colleagues with opportunities wherever available across Macy’s, Inc. and to [communicate] with transparency.”
On Tuesday, the New York-based fashion retailer announced plans to close 50 stores by the end of 2024, calling the change in its business strategy “A Bold New Chapter,” according to a press statement.
The changes to come for Macy’s include:
- Strengthening Macy’s nameplate through prioritizing the customer experience by revitalizing the products in-store to be more relevant, modernizing the shopping environment, and focusing resources on 350 small-format stores;
- Focusing on the luxury market through adding 15 Bloomingdale’s stores and 30 new Bluemercury stores nationwide, plus remodeling 30 Bluemercury stores; and
- Simplifying and modernizing supply chain operations and creating a more efficient operating model.
“A Bold New Chapter serves as a strong call to action,” Macy’s Inc. CEO Tony Spring said the release. “It challenges the status quo to create a more modern Macy’s Inc.
“We are making the necessary moves to reinvigorate relationships with our customers through improved shopping experiences, relevant assortments and compelling value,” he said. “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.”