Macy's closed 64 stores last year as the retailer's gains from real estate sales more than doubled
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Macy's reported its fiscal-year 2024 earnings, revealing plans for further sales declines as it continues to close underperforming stores and focus on more profitable locations. Last year, Macy's closed 64 stores, benefiting from real estate sales.
March 06, 2025 | 10:30 pm
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Macy's expects another year of declining sales as it continues to close underperforming stores and focus on better-performing locations. The company closed 64 stores last year, benefiting from real estate sales.
Macy's is closing underperforming stores, which indicates a strategic shift but also suggests challenges in maintaining sales growth. The doubling of real estate sales is a positive, but the overall expectation of declining sales is likely to negatively impact the stock price in the short term.
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