167 year old retail giant closing 150 locations nationwide, including multiple in Ohio


In 1858, Rowland H. Macy opened a store in New York City focused on dry goods, eventually becoming popular enough to move to Herald Square (still in NYC) in 1902. In 1924, Macy’s became the largest store in the entire world.

A 167 year streak is quite astonishing – but now, Macy’s announced it will be closing 150 underperforming stores by 2026, shrinking their footprint to only 350 locations nationwide.
“Closing any store is never easy, but as part of our Bold New Chapter strategy, we are 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,” said Tony Spring, chairman and chief executive officer of Macy’s, Inc. in a press release.
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66 of the 150 underperforming locations to be closed have been released, and two are here in Ohio: The Fairfield Commons Macy’s in Beavercreek will close, as well as the Franklin Park Mall location in Toledo.
The other future closings haven’t been released yet, and a set closing date has also yet to be announced.
According to CNN analysts, Macy’s has been “caught in the middle” when it comes to retail giants. Corporations like Walmart, who focus on bargain deals, are performing well. And surprisingly, luxury brands are, too. It’s the retail chains like Macy’s who aren’t necessarily luxury or bargain that seem to have to reassess and reevaluate their place in the market.
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