Macy’s is closing 65 stores in fiscal year 2024 alone, according to the company’s latest quarterly earnings report.
The closures are part of the department store chain’s plan to shutter 150 stores by 2026, which the company announced during second-quarter earnings call on Aug. 21.
These closings come as customer preferences in shopping have shifted due to an uncertain economy, as well as Macy’s identifying stores in their footprint that are underperforming.
But the closures are not all bad news for Macy’s.
The department store chain plans to redirect company resources from the underperforming stores slated for closure to more profitable stores and to its luxury stores, such as Bloomingdale’s and Bluemercury.
The company did not specify which of the 65 locations will this year, but the website notes there are 521 Macy’s stores currently open.
Of those 521 stores, there are 28 remaining Macy’s stores in New Jersey:
- Bridgewater (1)
- Cherry Hill (2)
- Deptford (1)
- East Brunswick (1)
- Eatontown (2)
- Edison (1)
- Freehold (1)
- Jersey City (1)
- Lawrenceville (1)
- Livingston (1)
- Maple Shade (1)
- Mays Landing (1)
- Mount Laurel (1)
- North Brunswick (1)
- Paramus (3)
- Ramsey (1)
- Rockaway (1)
- Short Hills (1)
- Springfield (1)
- Toms River (1)
- Wayne (2)
- West Orange (1)
- Woodbridge (1)
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Katherine Rodriguez can be reached at krodriguez@njadvancemedia.com. Have a tip? Tell us at nj.com/tips.