[Macy’s is closing 66 stores as part of its previously announced turnaround plan to save the beleaguered retailer. The stores being closed are a mix of Macy’s, its furniture-focused spinoff, and Backstage, its bargain-priced rival to Marshalls and T.J. Maxx.
The affected locations are spread across 34 states, with a significant number in California, Florida, and Texas. The stores will begin liquidation sales in the coming days, with some already closed.
Macy’s CEO Tony Spring said in a press release that closing “any store is never easy,” but the locations chosen are “underproductive” for its so-called Bold New Chapter strategy, which includes a shift to chasing wealthier shoppers with its higher-end brands including Bloomingdale’s and Bluemercury.
The company is “closing underproductive Macy’s stores to allow us to focus our resources and prioritize investments in our go-forward stores, where customers are already responding positively to better product offerings and elevated service,” Spring said.
The strategy is designed to fend off activist investors and boost the company’s sagging sales and stock. But Macy’s shares have fallen about 15% since the plan was announced a year ago.
Activist investors are pleading with the company to make changes to boost the stock and its outlook. They argue that Macy’s is sitting on real estate that is more valuable than the company itself and that its struggles are making its stock so unattractive that it is worth less than the sum of its parts.
Macy’s has disputed that, arguing it’s on a path to return to sustainable growth.
Here is the list of affected store locations:
Arizona:
* 6535 E. Southern Ave. in Superstition Springs Center (Mesa)
* 2015 Birch Rd. in Otay Ranch Town Center (Chula Vista)
* 6000 Sunrise Mall (Citrus Heights)
* 1400 Redwood Highway (Corte Madera)
* 750 W 7th St. (Los Angeles)
California:
* 200 Newpark Mall (Newark)
* 1555 Camino De La Reina in Mission Valley Home (San Diego)
* 2838 South El Camino (San Mateo)
* 300 Westminster Mall (Westminster)
* 414 K St. (Sacramento)
Colorado:
* 6797 South Vine St. (Centennial)
* 8298 E. Northfield Blvd. in the Shops at Northfield (Denver)
Florida:
* 820 West Town Parkway (Altamonte)
* 9339 Glades Rd. (Boca Raton)
* 801 N. Congress Ave. (Boynton Beach)
* 4501 N. Federal Highway (Fort Lauderdale)
* 13640 Pines Blvd. (Pembroke Pines)
* 3501 S, Tamiami Trail in Westfield Siesta Key (Sarasota)
* 13251 South Dixie Highway (Miami)
* 298 Westshore Plaza in West Shore Plaza (Tampa)
Georgia:
* 3360 Ventura Parkway (Duluth)
* 2100 Pleasant Hill Rd. in Gwinnett Place Mall (Duluth)
* 3630 Peachtree Parkway in Johns Creek Town Center (Suwanee)
Idaho:
* 200 W. Hanley Ave. in Silver Lake Mall (Coeur d’Alene)
Illinois:
* 101 Kingston Collection Way (Kingston)
Indiana:
* 14251 Burnhaven Drive (Burnsville)
* 3001 White Bear Ave. (Maplewood)
Kansas:
* 400 NW Barry Rd. in Metro North Mall (Kansas City)
Louisiana:
* 5733 Johnston St. in Acadiana Mall (Lafayette)
Maryland:
* 600 Baltimore Pike in Harford Mall (Bel Air)
* 6901 Security Blvd. in Security Square Mall (Baltimore)
Massachusetts:
* 495 Prospect Avenue West (West Orange)
Michigan:
* 4600 Miller Rd. in Genesee Valley Center (Flint)
* 14200 Lakeside Circle in Lakeside Mall (Sterling Heights)
* 3400 S. Airport Rd. W. in Grand Traverse Mall (Traverse City)
* 500 W. 14 Mile Rd. in Oakland Mall (Troy)
Minnesota:
* 400 Southpark Circle (Colonial Heights)
Missouri:
* 10 S. County Center Way in South County Center (St. Louis)
New Jersey:
* 422 Fulton St. (Brooklyn)
* 2027 Emmons Ave. (Brooklyn)
* 404 East Fordham Rd. (Bronx)
* 88-01 Queens Blvd. (Queens)
* 834 Walt Whitman Rd. in Melville Mall (Huntington)
* 1526 Union Turnpike (New Hyde Park)
* 400 Sunrise Mall (Massapequa)
* 397 Greece Ridge Center in Greece Ridge Center (Rochester)
* 98 Richmond Hill Rd. (Staten Island)
New York:
* 2727 Fairfield Commons Blvd. (Beavertown)
* 5001 Monroe St. in Franklin Park Mall (Toledo)
Ohio:
* 2055 NE. Allie Ave. at the Streets of Tanasbourne (Hillsboro)
* 400 High St. NE. (Salem)
Oregon:
* 5580 Goods Lane in Logan Valley Mall (Altoona)
* 245 Exton Square Mall (Exton)
* 1300 Market St. (Philadelphia)
* 59 Wyoming Valley Mall (Wilkes Barre)
Pennsylvania:
* 4545 Poplar Ave. in Oak Court Mall (Memphis)
Texas:
* 321 State St. in Southlake Town Square (Dallas)
* 6101 Long Prairie Rd. (Flower Mound)
* 1751 River Run (Fort Worth)
* 100 Almeda Mall (Houston)
* 6209 W. Park Blvd. at the Shops at Willow Bend (Plano)
* 201 Stacy Rd. (Fairview)
Washington:
* 15340 NE 24th St. (Redmond)
* 10315 Silverdale Way NW in Kitsap Mall (Silverdale)
Wisconsin:
* 3500 S. Meridian in South Hill Mall (Puyallup)
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