Macy’s is set to close more stores this year, following the closure of a few locations in 2023.
The retailer has recently announced the closure of five additional stores in four different states this year. While having a store closure near you might benefit your wallet by allowing you to save more money, it can still be disheartening to witness the closing of one of your beloved stores.
Is your local Macy’s at risk of closure? Take a look at the following list to find out.
Here are 8 genius hacks that budget-savvy shoppers cannot afford to miss.
1. California
This Article Includes
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- Bayfair Center — San Leandro, California
- Simi Valley Town Center — Simi Valley, California
As part of its plans to streamline operations and trim down the number of its stores, the company has announced the closure of two locations in California this year.
In 2023, Macy’s closed a store at Baldwin Hills Crenshaw Plaza in Los Angeles, prompting this recent decision.
2. Florida
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- Governor’s Square — Tallahassee, Florida
Florida joined the list of states that experienced store closures this year, as its sole location in Tallahassee shut down.
After the closure, the retailer will have a total of 40 stores in the Sunshine State.
3. Hawaii
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- Kukui Grove Center — Lihue, Hawaii
Macy’s closure in Lihue is not the first in Hawaii.
Macy’s recently made the decision to close its store in Kaneohe, marking the end of a successful 40-year run at Windward Mall. Despite this closure, Macy’s will continue to operate eight other locations in Hawaii, including its three stores in Honolulu.
4. Virginia
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- Ballston Quarter — Arlington, Virginia
Macy’s decided to close this location because there were already two Macy’s stores in the Arlington area, making it redundant.
In the previous year, the retailer made the decision to close another store in the region, specifically the one located in Gaithersburg, Maryland.
5. Additional employee cuts at Macy’s
Employees at the Macy’s stores that are shutting down are not the only ones who will be losing their jobs.
In a recent move, Macy’s revealed its plans to downsize its workforce by cutting 2,350 positions, which accounts for approximately 3.5% of its total employee count.
Macy’s is implementing a strategic move to enhance decision-making processes by streamlining management layers. As part of this initiative, Macy’s will not only eliminate certain positions but also embrace automation and outsourcing.
6. Macy’s isn’t alone with layoffs
In 2024, several other consumer retailers have also made the unfortunate announcement of layoffs.
Earlier this year, Wayfair had to make the difficult decision of letting go of over 1,000 employees. Similarly, Rent the Runway also had to downsize its workforce by 10% in January.
In February, Estée Lauder made an announcement that it would be reducing its workforce by 3% to 5%. This decision has also affected the beauty sector, as the brand’s products are available at Macy’s physical stores and online.
7. New opportunities
Macy’s shoppers can look forward to some positive changes in the future.
In a recent announcement, the company revealed its intentions to construct approximately 30 new locations across the United States. Notably, these new establishments will occupy a smaller real estate footprint compared to previous ventures.
Macy’s is planning to open smaller versions of their stores in strip malls nationwide. This means that shoppers will have the convenience of finding a Macy’s location closer to home, making it a smart shopping hack to visit your local mall for all your Macy’s needs.
Bottom line
If a Macy’s store near you is closing, it may become more challenging for you to find the items you desire. On the other hand, this situation could also present an opportunity for you to improve your financial situation.
Take advantage of this chance to explore potential avenues for saving money by reducing the number of purchases you previously made at your neighborhood Macy’s store.