Many Jobs Lost: Beloved Mall Retailer Confirms Massive Closings

Another mall retail giant, with about 40 locations in New York, confirmed plans to close 150 stores.

Earlier this year, Macy's announced plans to close 150 "underperforming" stores nationwide over the next three years.

Macy's To Close 150 Underperforming Stores

The plan will close about 33 percent of all Macy's stores. By 2026, there will be 350 Macy's stores left nationwide, if all goes to plan.

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Fifty of those closures were planned by the end of 2024.

Macy's Closing Even More Locations This Year

However, the company just confirmed more closures by the end of this year.

Now, Macy's is expected to close 55 stores in 2024.

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"The biggest things that have gone wrong at Macy's are the quality of the stores and the product assortment," Retail expert Neil Saunders told the Daily Mail.

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The company has yet to announce locations of the upcoming closures, simply calling these 150 underperforming stores “non-go-forward” locations

"While non-go-forward locations are underperformers relative to the total Macy's fleet, they are valuable real estate assets. Demand for these properties has been strong. We are pleased with the pace and the quality of deal making and now expect to close approximately 55 stores this year versus prior expectations of roughly 50," Macy's CEO Tony Spring said during the company's most recent earning call.

Macy's currently operates over 500 stores nationwide. Around 40 are in New York State.

See the list below of many other stores that are closing locations.

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