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Macy’s Inc. will close 150 underperforming stores, starting with 50 that will be shut down by the end of the company’s current fiscal year next Feb. 1.
The move, called the start of a “bold new chapter” by the New York-based department store chain, will leave the company with about 350 of its venerable department stores, according to a statement on the company’s website.
The company did not announce which stores would be closing. The chain’s Bloomingdale’s and Bluemercury beauty and skincare stores will not be affected.
“We are making the necessary moves to reinvigorate relationships with our customers through improved shopping experiences, relevant assortments and compelling value,” said Tony Spring, Macy’s Inc.’s chief executive officer, in the statement.
Company officials plan to spend more on Bloomingdale’s and Bluemercury, both luxury-oriented chains that have been outperforming Macy’s department stores.
There are 90 Macy’s locations in California, including eight in the Inland Empire, according to macys.com.
