Closing malls and malls left with vacant anchor stores have created a false narrative that Americans don’t go to malls anymore. In reality, that’s simply not true.
“Indoor malls outperformed both open-air centers and outlet malls on a full-year basis as the only format to post visit gains during all four quarters — signaling a shift from recovery into growth,” according to Placer.ai’s December 2025 Mall Index.
The overall growth was modest, 1.3% for the full year, but the number of people visiting malls did climb. Still, shoppers favored some malls over others.
“Over the years, as enclosed malls have evolved, it turns out that the A malls are doing extremely well, and C and D malls are accelerating to 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 tiers of malls have been forced to scale back. 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.
“Nearly two years into our Bold New Chapter strategy, the focus of our work remains the same: strengthen our stores, simplify how we operate, and invest in the experiences that matter most to our customers. Today, that work is centered 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.
“In executing our strategy, we continue to review our portfolio and make careful decisions about where and how we invest, including closing underproductive stores and streamlining operations. These decisions are not made lightly,” he added.
Macy’s latest round of closures includes 14 stores in 12 states.
5500 Grossmont Center Dr., La Mesa, California
3400 Naglee Rd., Tracy, California
4880 Briarcliff Rd. NE, Atlanta, Georgia
7900 Ritchie Hwy., Glen Burnie, Maryland
3850 Rivertown Pkwy. SW, Grandville, Michigan
4101 W Division St., Saint Cloud, Minnesota
50 Fox Run Rd., Newington, New Hampshire
112 Eisenhower Pkwy., Livingston, New Jersey
225 Interstate Shopping Center, Ramsey, New Jersey
1255 Niagara Falls Blvd., Amherst, New York
3801 Sumner Blvd., Raleigh, North Carolina
100 Pittsburgh Mills Cir., Tarentum, Pennsylvania
5488 South Padre Island Dr., Corpus Christi, Texas
17855 Southcenter Pkwy., Tukwila, WashingtonSource: USA Today
GlobalData Managing Director Neil Saunders was not kind in sharing his opinion on why Macy’s needs deep cuts to its fleet of stores.
“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 shops, failed to evolve the proposition, failed to respond to competition, and failed to prune its real estate. Amputation is now a necessary evil to cut out the rot,” he wrote on RetailWire.
Lisa Goller, a retail expert and RetailWire Brain Trust member, does see the changes as smart.
“Macy’s is smart to rightsize by deciding to close underperforming stores, upgrade remaining stores, and invest in small, off-mall locations. Times have changed, and its resource allocation needs to change, too,” she posted.
More Retail:
Patricia Vekich Waldron, a retail marketing expert with decades of experience, is not confident in Macy’s turnaround plan.
“It’s hard for me to have any level of confidence that Macy’s will turn around, even with a renewed focus and a new leader. Particularly given that the new CEO is a lifelong Macy’s career man, who has been in place during the previous initiatives,” she shared.
Related: Costco shares bold expansion and growth plans
“The stores set to close represent about a quarter of gross square footage in 2023 but less than 10% of sales. The remaining 350 Macy’s locations outperformed non-go-forward locations by 500 basis points in comparable-store sales and by 950 basis points in four-wall adjusted EBITDA rate, Spring noted in the company’s fourth-quarter 2023 earnings call.
Macy’s closing 150 stores through 2026 (original plan): This is part of the chain’s broader, Bold New Chapter” turnaround plan, according to Forbes.
Macy’s confirms 66 store closures (2025): The company has been steadily enacting its plan, according to a press release.
Macy’s store closures list and FAQ page: Information and timelines on specific store closures.
Related: 63-year-old outfoor fun chain closed 80 stores with no notice
This story was originally published by TheStreet on Mar 1, 2026, where it first appeared in the Retail section. Add TheStreet as a Preferred Source by clicking here.
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