Fans of Macy's Inc. will be disappointed to learn that the iconic department store has announced its next round of store closures. Fourteen Macy's locations in 12 states will shutter as a result of this move. Here's why and when the closures will take place. What's happened? On Thursday, Macy's published a letter from CEO Tony Spring to its employees updating them on the company's "A Bold New Chapter†strategy, which the department store chain unveiled in February 2024. As part of that strategy, Macy's annou ...

Core Insights - Macy's Inc. experienced its strongest comparable sales growth in 12 quarters during the second quarter, with positive performance across its three department store brands: Macy's, Bloomingdale's, and Bluemercury [1][4]. Group 1: Sales Performance - The Macy's nameplate recorded a year-over-year growth in comparable sales of 1.2% across all stores and 1.5% at go-forward stores, which are those not planned for closure [4]. - Bloomingdale's achieved a 5.7% increase in comparable sales, marking its fourth consecutive quarter of growth, while Bluemercury reported a 1.2% increase, its 18th consecutive quarter of gains [6]. Group 2: Strategic Initiatives - The company's growth is attributed to "substantive enterprise-wide improvements" under its "A Bold New Chapter" strategy, which aims to modernize operations and enhance customer experience [2][3]. - The strategy includes closing underperforming locations and investing in areas with growth potential, leading to a more focused and profitable store base [5]. Group 3: Future Outlook - Macy's Inc. raised its 2025 guidance for comparable sales to a range of down 1.5% to down 0.5%, an improvement from the previous guidance of down 2% to down 0.5% [7]. - The company acknowledges the resilience of its customer base but remains cautious about potential impacts from tariffs on demand, suggesting a more selective consumer behavior in future guidance [8].