Macy's, Inc. (M.US) will close 66 underperforming stores across the United States and focus on expanding its flagship stores.

Macy's, Inc. will close 66 stores across the United States, with 9 in New York and 9 in California, as part of their strategy to close 150 underperforming stores by 2026. The retailer's previously announced strategy aims to restore sustainable, profitable sales growth and upgrade 350 more profitable stores. Macy's, Inc. CEO Tony Spring stated, "We are closing underperforming Macy's, Inc. stores to allow us to focus resources and prioritize investment in our leading stores where customers have responded positively to better product and higher service." The "Bold New Chapter" strategy of Macy's, Inc., with investments in the top 50 stores to improve customer experience, has boosted sales for three consecutive quarters. The company plans to bring this enhanced customer experience to more locations nationally through its digital channels. While the performance of the top 50 stores seems promising, investment firm Elephant Analytics cautions that it is not yet clear how much of this success may be attributable to the overall strength of these stores. "However, Macy's, Inc. notes that some of its lower-performing stores (within the top 50) saw the largest increase in sales," he added.