As part of its “A Bold New Chapter” plan, Macy’s will close 66 additional stores, including the one in Chester County, writes Kelly Tyko for Axios.
The struggling department store chain is continuing to reduce its locations due to its declining sales that are being driven by growing competition from nimble big-box chains, fast-fashion retailers, and digital competitors.
Last February, the company announced its plans to close 150 stores – which is about a third of its locations – by the end of 2026. The retailer has also stated it will lean more into its high-end brands and invest in its “350 go-forward Macy’s locations.”
According to Tony Spring, Macy’s chair and CEO, the company is already starting to close some of its underproductive stores “to allow us to focus our resources and prioritize investments in our go-forward stores.”
The Exton Macy’s, located within Exton Square Mall, is among the stores that are slated to close in this round. Clearance sales will start in January and run for around eight to twelve weeks.
Three more Pennsylvania stores are also on the closing list: Altoona, Philadelphia, and Wilkes Barre.
Read more about Macy’s closing stores to reprioritize its investments in Axios.
______
