The closure of malls and those left with empty anchor stores have created a false narrative that Americans no longer go to malls. In reality, that is simply not true.
“Indoor malls surpassed outdoor centers and outlet malls throughout the year as the only format to post visitation increases over all four quarters, indicating a shift from recovery to growth,” according to Placer.ai’s December 2025 Shopping Center Index.
Overall growth was modest, 1.3% for the full year, but the number of people visiting shopping centers increased. Still, shoppers preferred some malls over others.
“Over the years, as enclosed malls have evolved, it turns out that A malls are doing extremely well, and C and D malls are accelerating toward extinction,” Chris Conlon, CEO of WPG, formerly known as Washington Prime Group, told Retail Dive.
As the mall landscape has changed, retailers that used to operate at all levels of malls have been forced to downsize. Macy’s has a plan to close about 150 stores and has already closed 66 struggling locations.
Now its latest round of closures has been made public.
Macy’s CEO Tony Spring shared an update on the chain’s “Bold New Chapter” turnaround plan in January.
“Almost two years into our Bold New Chapter strategy, the focus of our work remains the same: strengthening our stores, simplifying the way we operate, and investing in the experiences that matter most to our customers. Today, that work centers on disciplined execution and continuous improvement, with strategic investments that are guided by what customers value most,” he wrote in an open letter to employees.
He noted that store closures remain a key part of the plan.
“As we execute our strategy, we continue to review our portfolio and make careful decisions about where and how we invest, including closing underperforming stores and streamlining operations. These decisions are not made lightly,” he added.
Macy’s latest round of closures include 14 stores in 12 states.
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5500 Grossmont Center Dr., La Mesa, California
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3400 Naglee Rd., Tracy, California
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4880 Briarcliff Rd. NORTHEAST, Atlanta, Georgia
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7900 Ritchie Hwy., Glen Burnie, Maryland
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3850 Rivertown Pkwy. SOUTHWEST, Grandville, Michigan
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4101 W Division St., Saint-Cloud (Minnesota)
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50 Fox Run Rd., Newington, New Hampshire
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112 Eisenhower Pkwy., Livingston, New Jersey
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225 interstate mall, Ramsey, New Jersey
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1255 Niagara Falls Boulevard, Amherst, New York
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3801 Sumner Blvd., Raleigh, North Carolina
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100 Pittsburgh Mills Cir., Tarentum, Pennsylvania
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5488 South Padre Island Dr., Corpus Christi, Texas
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17855 Southcenter Parkway., Tukwila (Washington)
Source: USA Today
GlobalData CEO Neil Saunders wasn’t kind when sharing his opinion on why Macy’s needs big cuts to its store fleet.
“The fact that Macy’s has to close so many stores is because the business has been neglected for so long. Over the years, it failed to invest in stores, failed to evolve the proposition, failed to respond to competition, and failed to prune its real estate. Amputation is now a necessary evil to end the rot,” he wrote in RetailWire.
Lisa Goller, a retail expert and member of the RetailWire Brain Trust, calls the changes smart.
“Macy’s is smart to right-size by deciding to close underperforming stores, improve remaining stores, and invest in smaller locations outside of malls. Times have changed and its resource allocation must change too,” he posted.
More retail:
Patricia Vekich Waldron, a retail marketing expert with decades of experience, isn’t confident in Macy’s turnaround plan.
“It’s hard for me to have any level of confidence that Macy’s will change, even with a renewed focus and a new leader. Especially given that the new CEO is a long-time Macy’s career man, who has been in the role during previous initiatives,” he shared.
Related: Costco Shares Bold Expansion and Growth Plans
“Stores that will close represent about a quarter of gross square footage in 2023, but less than 10% of sales. Macy’s remaining 350 locations outperformed non-moving locations by 500 basis points in comparable store sales and by 950 basis points in the four-wall adjusted EBITDA ratio, Spring noted on the company’s fourth-quarter 2023 earnings call.
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Macy’s will close 150 stores by 2026 (original plan): This is part of the chain’s broader turnaround plan, “Bold New Chapter,” according to Forbes.
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Macy’s confirms 66 store closures (2025): The company has been steadily implementing its plan, according to a press release.
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List of Macy’s store closures and FAQ page: Information and timelines on specific store closures.
Related: The 63-year-old outdoor fun chain closed 80 stores without notice
This story was originally published by TheStreet on March 1, 2026, where it first appeared in the Retail section. Add TheStreet as a preferred source by clicking here.