Macy's to close 4 stores in Michigan, amid 66 newly announced closures nationwide
(CBS DETROIT) – The Macy's stores in Troy and Sterling Heights are scheduled to close this year as part of a company restructuring plan.
The stores at Oakland Mall (Troy) and Lakeside Mall (Sterling Heights) are among 66 retail locations that Macy's announced this week for closure.
"This plan is designed to return the company to sustainable, profitable sales growth which includes closing approximately 150 underproductive stores over a three-year period while investing in its 350 go-forward Macy's locations through fiscal 2026," the press release said.
In addition to Troy and Sterling Heights, the Macy's stores in Traverse City at Grand Traverse Mall and Flint at the Genesee Valley Center are on this year's list. The Macy's store in Toledo, Ohio, is also slated for closure. Most of the closings will take place during Q1, the company said.
In the meantime, the company plans to invest in "its 350 go-forward Macy's locations" through fiscal year 2026.
Macy's is among a growing list of retailers shuttering stores. In 2024, U.S. retailers closed more than 7,100 stores — a 69% jump from 2023. Family Dollar and CVS Health were among the companies with the largest amount of closures, as 45 retailers filed for bankruptcy protection in 2024.
