Macy’s to close 150 underperforming stores across the U.S. by 2026, including flagship San Francisco store
03/01/2024 // Laura Harris // Views

Retail giant Macy's is set to close 150 underperforming stores nationwide over the next three years as the chain works to stay relevant in the ever-evolving retail industry.

The iconic department store chain has decided to cut off around 30 percent of its current fleet, including its flagship store in Union Square, San Francisco, to focus on upgrading the remaining 350 shops, opening 30 smaller ones outside malls and adding 15 Bloomingdale’s outlet stores and 30 new Bluemercury stores. The closures will represent about a quarter of Macy's gross square footage, but less than 10 percent of its total sales. (Related: Sudden local bank closures in San Francisco area surprise residents.)

Macy's, the parent company of luxury department store chain Bloomingdale's and chain cosmetics store Bluemercury, anticipates generating $600 million to $750 million in savings from these store closures by the end of 2026. The proceeds will be reinvested to fund remaining stores, fuel future expansion and modernization efforts and revitalize Bloomingdale's and Bluemercury.

New Macy's CEO Tony Spring, who was previously the CEO of Bloomingdale's, outlined the strategy as Macy's reported that it met its sales estimates and exceeded earnings forecasts for the holiday quarter. He clarified that "this isn't just about shrinking." Instead, he wants the department store chain to give customers a chance to "shop the way they want."

“This is about resizing the portfolio to make sure we are giving people an opportunity to shop the way they want," Spring said.

We are building the infrastructure of human freedom and empowering people to be informed, healthy and aware. Learn about our free, downloadable AI tools on nutrition, health and preparedness at this article link. Every purchase at helps fund our efforts to build and share more tools for empowering humanity with knowledge and abundance.

Spring, who used research conducted among 60,000 American consumers over the past years, plans to enhance the shopping experience by adding sales associates to fitting rooms and shoe departments. The company will also focus on visual merchandising, including the introduction of more mannequins and fine-tuning details such as the optimal display methods for different clothing items.

Big department stores are not as attractive as they used to be

Macy's Inc. used to be a big chain made up of several regional department stores across the United States.

In 2019, the company had about 870 stores, including 643 Macy's locations. However, new competitors have been better at attracting new and younger shoppers, while large stores like Macy's have become old, underused or located in retail areas that aren't popular for shopping.

Previous CEOs tried to work it out and make the company smaller by closing some stores, but it didn't always work well.

In January, Macy's cut 13 percent of its corporate staff and announced the closure of five stores. The costs of making these changes caused Macy's to lose $71 million in the fourth quarter, compared to making a profit of $508 million the previous year. But then, sales during the 2023 holiday season were also reportedly down compared to the previous year.

This, in turn, reflects the challenges faced by traditional retailers amid growing online competition.

Ray Wimer, a professor of retail practice at Syracuse University, acknowledged Macy's and other retail giant's current status.

"They've been trying to restructure and find strategies to find a path to success into the future. Right now, there's just so much competition. The really big department store in many areas of the country is not as attractive as it used to be," Wimer said.

He suggests that companies should create smaller, more efficient spaces to enhance the shopping experience of customers.

Visit for more stories about the deterioration of San Francisco.

Watch this footage of downtown San Francisco featuring a lot of shuttered stores.

This video is from the alltheworldsastage channel on

More related stories:

Starbucks announces CLOSURE of 7 stores in downtown San Francisco amid skyrocketing violence and crime.

San Francisco retailers LEAVING metro area in droves due to unchecked RETAIL THEFT.

Businesses that endorsed BLM now closing their stores in San Francisco as rampant violence and crime overwhelms.

Group of Organized Retail Crime (ORC) thieves targeting luxury retail stores in California.

Walmart cuts another 2,000 warehouse jobs following retail store closure announcement.

Sources include:

Related News
Take Action:
Support Natural News by linking to this article from your website.
Permalink to this article:
Embed article link:
Reprinting this article:
Non-commercial use is permitted with credit to (including a clickable link).
Please contact us for more information.
Free Email Alerts
Get independent news alerts on natural cures, food lab tests, cannabis medicine, science, robotics, drones, privacy and more.
App Store
Android App
eTrust Pro Certified

This site is part of the Natural News Network © 2022 All Rights Reserved. Privacy | Terms All content posted on this site is commentary or opinion and is protected under Free Speech. Truth Publishing International, LTD. is not responsible for content written by contributing authors. The information on this site is provided for educational and entertainment purposes only. It is not intended as a substitute for professional advice of any kind. Truth Publishing assumes no responsibility for the use or misuse of this material. Your use of this website indicates your agreement to these terms and those published here. All trademarks, registered trademarks and servicemarks mentioned on this site are the property of their respective owners.

This site uses cookies
Natural News uses cookies to improve your experience on our site. By using this site, you agree to our privacy policy.
Learn More
Get 100% real, uncensored news delivered straight to your inbox
You can unsubscribe at any time. Your email privacy is completely protected.