Macy's is closing 66 stores as part of its "A Bold New Chapter" plan, with liquidation sales set to start in January, the retailer confirmed to Axios Thursday.
Why it matters: The struggling department store chain is getting smaller as it continues to deal with declining sales.
Macy's said last February that it planned to shutter 150 stores by the end of 2026 — about a third of its locations.
The retailer also said it is leaning into its high-end brands and plans to invest in its "350 go-forward Macy's locations."
Tony Spring, Macy's chair and CEO, said in a statement the company is closing underproductive stores "to allow us to focus our resources and prioritize investments in our go–forward stores."
The big picture: The department store sector has been reeling for years, struggling to compete with nimbler big-box chains, fast-fashion retailers and digital competitors.
The industry has seen the bankruptcies of stalwart chains such as Sears, JCPenney and Neiman Marcus.
Flashback: In early 2020 before the pandemic, Macy's Inc., which includes Bloomingdale's and Bluemercury, said it would close around 125 stores, a fifth of locations, as part of a three-year plan.
Macy's fell short of its target and closed 80 namesake stores.
State of play: Macy's confirmed to Axios that clearance sales will begin in January and will run for approximately 8–12 weeks for full-line and small-format stores.
For most furniture galleries and free-standing Backstage stores, clearance sales will begin in February and will run for approximately six weeks.
Macy's stores closing list 2025
Zoom in: Macy's typically announces closings after the holiday shopping season, which has been the case in recent years, including in January 2023 and January 2024.
Stores slated to close include stand-alone Backstage stores, Market by Macy's small format stores, department stores and furniture stores.
Arizona Macy's store closure
Mesa: Superstition Springs Center, 6535 E Southern Ave.
California Macy's closing stores
Chula Vista: Otay Ranch Town Center, 2015 Birch Road
Citrus Heights: Sunrise Mall, 6000 Sunrise Mall
Corte Madera: Village at Corte Madera, 1400 Redwood Highway
Los Angeles: Downtown LA Plaza, 750 W 7th St.
Newark: NewPark Mall, 200 Newpark Mall
Sacramento: Downtown Plaza, 414 K St.
San Diego: Mission Valley Home, 1555 Camino De La Reina
San Mateo Hillsdale Furniture: 2838 South El Camino
Bankrupt retailer Big Lots said Friday it struck an 11th-hour deal to save hundreds of its stores via a sale to Gordon Brothers and Variety Wholesalers.
Why it matters: The Columbus, Ohio-based company had about 27,700 employees and more than 1,300 stores in 48 states when it filed for Chapter 11 bankruptcy protection in September.
Last Friday, the company said its restructuring plans had collapsed and it would have to liquidate all its stores.
Zoom out: Big Lots said Variety Wholesalers would take over somewhere between 200 and 400 locations, which will keep the Big Lots name; and up to two distribution centers.
Variety operates chains including Roses, Maxway and Bargain Town.
Yes, but: The deal that saves stores gives no guarantee on jobs.
In a statement, Big Lots said Variety "may" employ current associates at the saved facilities.
The deal still has to be approved by the bankruptcy court.
Many retailers are extending store hours in the final shopping days before Christmas, but most stores will close early on Christmas Eve.
The big picture: Time is running out to shop for last-minute gifts in-store and order them online for pickup or delivery.
Since Black Friday fell on the latest possible day this year — Nov. 29 — this is the shortest holiday season with 26 days between Black Friday and Christmas.
Store hours for Christmas Eve 2024
Here are Christmas Eve hours for major retailers, which can vary by location and by mall.
It's best to check store websites or apps to plan accordingly.
Curbside and in-store pickup hours also can vary from store hours.
