Macy’s Inc. has reportedly selected two nameplate stores in Massachusetts to be part of a larger strategic trimming of its store footprint.
According to the Patriot Ledger, Macy’s has sold its 150,000-sq.-ft. box store and 15.2-acre parcel of land to the owners of the Kingston Collection shopping center in Kingston, Mass. where the store is located. As a result, the store will close in early 2025.
"As part of our new strategy to return Macy’s, Inc. to profitable growth and enhance the customer experience, Macy’s has sold its Macy’s Kingston Collection store in Kingston, Mass.," a Macy’s spokesperson told the Patriot Ledger.
Macy’s is also said to be planning to close nameplate stores in the southeastern Massachusetts community of Hanover. The retailer currently operates 16 locations in Massachusetts.
Read more coverage from the Patriot Ledger here.
In February 2024, the department store giant said it is “focusing resources” by closing approximately 150 underproductive Macy’s locations, including some 50 by the end of 2024, and prioritizing investment in approximately 350 “go-forward” nameplate locations and the continued expansion of small-format stores.
In October 2023, Macy’s said it would open up to 30 small-format, off-mall stores through fall 2025, starting in fall 2024.
[READ MORE: Macy’s to close 150 nameplate stores; expand off-mall and luxury formats]
As part of its strategy, dubbed "A Bold New Chapter," the company plans to focus more on luxury goods by opening about 15 Bloomingdale’s stores and at least 30 Bluemercury stores during the next three years. It also expects to remodel about 30 Bluemercury locations during that time. Bloomingdale's and Bluemercury have both outperformed Macy's.