Macy's announced its expectation of declining sales for fiscal 2025, forecasting between $21 billion and $21.4 billion, down from last year’s $22.3 billion. While the company faced a 4.3% decrease in net sales in the last quarter, it noted slight growth in its online marketplace. Macy's is implementing a 'Bold New Chapter' strategy which includes closing 150 stores by 2026, with 64 closures already executed. The strategy has resulted in significant gains from asset sales and aims to focus on better-performing retail locations moving forward.
Macy's has projected fiscal 2025 sales between $21 billion and $21.4 billion, a drop from $22.3 billion last year, as it continues to reshape its footprint.
The company's 'Bold New Chapter' strategy involves closing 150 stores by the end of fiscal 2026, prioritizing investment in the remaining 350 'go-forward' locations.
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