66 stores are closing across the U.S.
Image Courtesy of AP
Macy’s has announced the closure of five department stores in North Texas as part of a broader initiative called “Bold New Chapter,” which aims to shut down approximately 150 underperforming locations nationwide. This strategy is designed to refocus resources on more profitable stores while investing in around 350 locations that are deemed essential for future growth.The specific North Texas stores set to close include:
- Fairview: 201 Stacy Road
- Shops at Willow Bend in Plano: 6209 W. Park Blvd.
- Southlake Town Square in Southlake: 321 State St.
- West Bend in Fort Worth: 1751 River Run
- Highlands of Flower Mound: 6101 Long Prairie Road
Additionally, another store at the Almeda Mall in Houston is also included in this round of closures. The timeline for these closures has not been fully disclosed, but liquidation sales are expected to begin soon. Tony Spring, Macy’s chairman and CEO, emphasized that while closing stores is challenging, the decision is part of a necessary strategy to enhance customer experience and improve overall business performance. The company has been facing declining sales, prompting this significant restructuring effort aimed at achieving sustainable growth through better product offerings and elevated service levels across its remaining locations.
