Macy’s Is Closing 150 Stores (Will Yours Be One?)

After shutting down a handful of stores in 2023, Macy’s has more closures planned for this year.

The retailer has announced another five closings in four states this year. While a store closure near you might help you keep more cash in your wallet , it is never a good feeling to see one of your favorite stores close.

Is your local Macy’s on the chopping block? Check this list to see.

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1. California

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• Bayfair Center — San Leandro, California
• Simi Valley Town Center — Simi Valley, California

Two locations in California are shutting down this year as part of company plans announced in 2020 to reduce the number of its stores.

The move comes after Macy’s closed a location at Baldwin Hills Crenshaw Plaza in Los Angeles in 2023.

2. Florida

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• Governor’s Square — Tallahassee, Florida

Florida made the store-closing list this year, with its only Tallahassee location shutting down.

The retailer will have 40 stores in the Sunshine State after the closure.

3. Hawaii

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• Kukui Grove Center — Lihue, Hawaii

The location in Lihue isn’t the first Macy’s to close in Hawaii.

The retailer closed its location in Kaneohe after over 40 years at Windward Mall. The move will leave eight Macy’s locations in Hawaii, including its three in Honolulu.

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4. Virginia

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• Ballston Quarter — Arlington, Virginia

Macy’s may have chosen to shut down this location due to redundancy in the area, as Arlington currently has two Macy’s locations.

Last year, the retailer closed another location in the region when it shut down a store in Gaithersburg, Maryland.

Additional employee cuts at Macy’s

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Workers at the closing Macy’s locations aren’t the only ones losing their jobs with the retailer.

This year, Macy’s announced it was cutting 2,350 positions, or around 3.5% of its workforce, as part of its downsizing efforts.

The move is meant to speed up decision-making by eliminating layers of management. Macy’s will eliminate additional positions in favor of automation and outsourcing.

Macy’s isn’t alone with layoffs

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Several other consumer retailers have also announced layoffs in 2024.

Wayfair laid off more than 1,000 employees earlier this year, while Rent the Runway laid off 10% of its workforce in January.

Layoffs also recently hit the beauty sector. In February, Estée Lauder announced it would cut 3% to 5% of its workforce. The brand is available at Macy’s store locations and on Macy’s website.

New opportunities

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On the other hand, there are some positive changes for Macy’s shoppers in the future.

Last year, the company announced that it planned to build around 30 new U.S. locations with a smaller real estate footprint.

The locations will be slimmed-down versions of Macy’s, and shoppers will be able to find them in strip malls across the country. So, visiting your local mall might soon be a smart shopping hack if you want to shop at Macy’s.

Bottom line

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If a Macy’s near you is closing, it could make it harder for you to get what you want. However, it could also help you get ahead financially .

Use this opportunity to see if you can find ways to save money by cutting down on the types of purchases you used to make at your local Macy’s.

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