Macy's is taking significant steps to revitalize its retail footprint by announcing the closure of 150 underperforming stores, with the first wave of 66 locations revealed, including a notable outlet in downtown Los Angeles on 7th Street. This decision is part of the retailer's broader strategy to enhance sustainability and profitability amidst a challenging retail climate [CBS News](https://www.cbsnews.com/news/macys-store-closings-list/).

In its statement, Tony Spring, Macy's chairman and CEO, remarked, "Closing any store is never easy. However, 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." According to the plan, the retailer aims to shut down locations considered "non-go-forward" while investing in its remaining 350 stores over the next few years to enhance customer offerings and service [LA Times](https://www.latimes.com/business/story/2025-01-10/los-angeles-macys-closures).

These closures come as part of a larger trend affecting brick-and-mortar retailers, with over 7,100 stores announced for closure across the U.S. in 2024 alone—marking a 69% increase compared to the previous year. Macy's closures coincide with a demographic shift toward online shopping, a trend that accelerated during the pandemic. Macy's is not the only retailer facing these challenges; Kohl's has also announced plans to close 27 underperforming stores, highlighting a widespread struggle in the retail sector as consumer behavior rapidly evolves.

In addition to cutting down on underperforming locations, Macy's plans to open 15 Bloomingdale's stores and 30 Bluemercury outlets in the next three years, along with remodeling some existing stores. These moves are a part of the company's effort to reshape itself and focus on areas with higher growth potential and consumer interest. The closings are anticipated to result in layoffs of approximately 2,350 employees, reflecting the tough decisions facing the retail giant at this juncture.

The retail industry, particularly in high-traffic locations like malls, continues to face tough conditions as more consumers prefer online shopping options. As Macy's endeavors to adapt, the future performance of its remaining stores will be crucial for its ongoing viability in the competitive retail landscape.

For the complete list of locations affected by the closures, visit the CBS News.