Macy’s has confirmed plans to shutter 14 additional underperforming stores in 2026, bringing its total closures to 135 since the launch of CEO Tony Spring’s “Bold New Chapter” turnaround plan in February 2024. The company closed 55 locations in 2024 and another 66 in 2025. With this next round—largely slated for the first quarter—Macy’s will achieve roughly 80% of its stated goal to eliminate 150 stores over a three-year span, reflecting a disciplined approach to optimizing its real estate portfolio.

The 14 targeted locations span 12 states, including Arizona, Florida, Illinois, New York and Texas. Macy’s has already begun clearance sales at each site, offering discounts of 30% to 70% off regular prices on apparel, home goods and beauty products. Store-level management teams have been instructed to maintain staffing levels sufficient to deliver full customer service capabilities through the final sale date.

Analysts estimate Macy’s will realize approximately $120 million in annual rent and operating expense savings once the planned closures are complete. The company expects one-time exit costs of roughly $40 million, including lease termination fees and inventory markdowns. Management has reiterated its commitment to redeploying capital into high-traffic locations, digital channels and fulfillment infrastructure, aiming to drive comp-store sales growth of 2% to 3% in fiscal 2026.