Your local Macy’s might not be closing its doors as soon as previously expected.
On Wednesday, the department store chain confirmed a major change involving a previously announced plan to permanently shutter 150 stores.
In an earnings call, CEO Tony Spring revealed that “several major milestones” had been hit last year, citing a return to “positive comparable sales for total Macy’s Inc. and Macy’s Nameplate.”
The retail boss said Macy’s success marked “an important inflection point” for the chain, as the brand hit “better-than-expected” results in every quarter, and “delivered adjusted diluted EPS well above” the chain’s own guidance.
On that same call, Macy’s CFO Tom Edwards confirmed that the chain still plans to close 65 locations to complete the 150 store closures that had been planned since 2024.
However, the closures will take place over an extended timeline.
“With our strong balance sheet and cashflow generation, we can be flexible on timing of transactions,” Edwards said. “In order to maximize value of remaining assets, we now expect closures through 2028.”
Macy’s had initially announced that the closures would take place through 2026.
Building a “bold new chapter”
Reflecting on since-implemented changes, Spring said he believes. Macy’s will continue to “build momentum.”
He also mentioned strong growth at Bloomingdale’s stores, renewed multi-generational interest, and the utilization of AI to build “capabilities throughout the organization.”
The hopeful news comes after Macy’s announced its “Bold New Chapter” plan in 2024, which included cutting 150 underperforming stores over three years and investing in its best-performing stores.
It involves reimagining hundreds of locations with upgrades, focusing on the customer experience, and making some major cuts. In an update last January, the company confirmed that it would axe 66 of its stores in 2025.
It wasn’t long after that Macy’s started to see promising results.
In September, for example, it announced its first increase in sales since 2022. And in a letter to employees this January, Spring said the plan to focus on well-performing stores was working in a letter to employees.
Shares of Macy’s Inc (NYSE: M) have struggled this year, with the stock down roughly 22% year to date. But the stock has seen gains of around 30% over the past 12 months.
“We are seeing customers respond through strong performance in our go-forward business, record Net Promoter Scores, and improved results over the first three quarters,” Spring stated, while confirming that 14 stores were still slated to close in March of this year.
Which Macy’s locations are closing this year?
As Fast Company reported in January, previously announced closing stores in 2026 include locations in California, Michigan, Minnesota, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Texas, and Washington.
A Macy’s spokesperson told Fast Company that the company has closed 85 locations thus far, but it has not shared a list of possible future closure locations.
Regardless of the clear gains that Macy’s has made since its 2024 announcement, the company’s leaders still gave modest predictions for the rest of 2026, noting that it would be a challenging year with lower sales than 2025.
Macy’s projects full-year revenue between $21.4 billion and $21.65 billion, below 2025’s $21.8 billion.