After over a century and a half of serving as a cornerstone of American retail, Macy’s, the iconic department store chain, is closing 150 of its locations as part of a dramatic restructuring effort.
The decision comes amid a staggering financial hit, with the company reporting a $21.3 billion drop in sales, driven by shifting consumer habits, the rise of e-commerce, and broader economic pressures.
This move marks a significant turning point for a retailer that has long symbolized the grandeur of brick-and-mortar shopping in the United States.
According to a report from The Mirror US published on March 13, 2025, Macy’s experienced a 5.5% decline in net sales in 2023 alone, translating to a $21.3 billion loss in revenue.
This financial blow has destabilized the chain, prompting what the company calls its “Bold New Chapter” plan. The strategy aims to pivot Macy’s toward a more digital-focused future while scaling back its physical footprint.
The closures, affecting roughly a third of its stores, reflect a broader trend of traditional retailers struggling to adapt to a marketplace increasingly dominated by online giants like Amazon.
The announcement has sparked widespread discussion about the end of an era.
Macy’s, founded in 1858 by Rowland Hussey Macy, grew from a single dry goods store in New York City into a national institution, famed for its Thanksgiving Day Parade and flagship Herald Square location.
However, changing consumer preferences have hit the chain hard. “Shifting consumer behavior, a drop in sales, and an increase in online shopping” were cited by The Mirror US as key factors behind the closures.
Clearance sales have already begun at affected locations, with discounts reaching up to 70% on select items, signaling a rapid wind-down of these historic outlets.
Additional context from posts on X aligns with this narrative, with users sharing links to the Mirror US article and lamenting the loss of a retail giant.
One post from March 15, 2025, highlighted the closures as a symptom of Macy’s inability to keep pace with modern retail dynamics, a sentiment echoed across social media.
While X posts are not definitive evidence, they reflect a public perception that Macy’s struggles are part of a larger retail reckoning.
Other news outlets have also weighed in on the broader implications.
Though not directly cited in the provided search results, reports from sources like The New York Times in past retail collapse stories—such as Bed Bath & Beyond’s 2023 bankruptcy—offer a parallel.
That retailer, after 52 years, succumbed to similar pressures from online shopping, suggesting Macy’s is not alone in facing this existential crisis.
Unlike Bed Bath & Beyond, which filed for bankruptcy, Macy’s is attempting a strategic retreat rather than a full closure, but the scale of its losses raises questions about the long-term viability of this approach.
Critically, the reported $21.3 billion sales drop warrants scrutiny.
A 5.5% decline translating to such a massive figure implies Macy’s total sales were once in the range of $387 billion annually, a number that seems implausible given the company’s historical revenue, which peaked closer to $25 billion in recent years.
This discrepancy suggests either a miscalculation, a typo, or an aggregation of losses over multiple years not clarified in the reporting. Regardless, the financial strain is undeniable, and Macy’s leadership is betting on a leaner, tech-savvy model to survive.
