[UPDATE] Macy's Reveals Stores Slated For Closure Including Several Surprises

Macy’s  (NYSE: M) announced Thursday plans to close nearly seventy retail stores as part of its ongoing efforts to return the company to "sustainable, profitable sales growth."    The closures, most of which will occur by April, include three stores in metro Atlanta, one of which had just opened in 2022.  

The New York City-based retailer first announced its so-called "Bold New Chapter" strategy in February 2024, at which time it said it planned to close approximately 150 underproductive stores over a three year period while investing in its 350 "go-forward" Macy’s locations through fiscal 2026.  

Thursday's announcement included 64 stores it plans to close in the first quarter of this year as well as the mention of two other stores it already closed in 2024.  

In metro Atlanta, Macy's will close its legacy full-line and Furniture Store at Gwinnett Place (both originally Rich's), closures that were expected following the retailer's sale of their 23 acre property at the mall to the Gwinnett County this past December.  Following its $16.5 million acquisition of the Macy's properties, the county now owns 76 acres of the mall property.    

The most surprising closure on the list is the shuttering of the Market by Macy's store at Johns Creek Town Center in Johns Creek/Suwanee.  The small format, 31,000 square foot Macy's just opened in August 2022, and was one of three locally, the others being in Snellville and McDonough.  The small format store was seen as a way for Macy's to penetrate smaller markets where a full-line store might be unnecessary and/or too expensive to operate.  Macy's throwing in the towel so quickly on what by most measures is still a test, caught many industry observers off guard.    

In addition to the Johns Creek closure, the company is also closing Market by Macy's stores in Southlake and Flower Mound, Texas.  The Southlake store, the company's first under the small format banner, opened in 2020.  As of May 2023, Macy's indicated that it operated ten Market by Macy's stores and that it was looking to open more.  “We’re very bullish on the concept. We’re very bullish on the early learnings. The size, the locations are all working,” then Macy's CEO Jeff  Gennette told CNBC in March 2023.  Less than a year later,  Gennette stepped down and was replaced by former Bloomingdale's CEO Tony Spring.        

Macy's has, in recent years, closed several Atlanta area department stores, including those at North DeKalb Mall (2016), The Gallery at South DeKalb (2020), and Greenbriar Mall (2021).  

The closure announcement was surprisingly void of two other expected stores closures: Northlake Mall in Tucker and Riverchase Galleria in Hoover, near Birmingham.  Both stores were put up for sale in 2024 and both were expected to be part of the early 2025 store closure list.  It's unclear what may have changed in terms of timing but employees at thee Northlake store indicated [last year] that they were told their store would close no later than February 2025.  

Macy's, through its various banners - Macy’s, Bloomingdale’s and Bluemercury - continues to operate hundreds of stores around the country including Macy's and Bloomingdale's at Lenox Square in Buckhead, Macy's at Perimeter Mall in Dunwoody, and North Point Mall in Alpharetta and Bluemercury at Buckhead Market Place in Buckhead.  This past August the company brought their Bloomingdale's The Outlet Store off-price banner to Buckhead Station in Buckhead. 

Are you surprised by the stores Macy's plans to close?  What is your all time favorite department store past or present?  What would you most like to see open in place of the Market by Macy's in Johns Creek? 

Please share your thoughts below.