Macy’s is closing two Brooklyn locations as part of a cost-cutting initiative that will shutter 66 stores nationwide this year, the retail giant confirmed Thursday.
The closures include Macy’s flagship store on Fulton Street in Downtown Brooklyn and the Macy’s Backstage location in Sheepshead Bay. They are among five New York City locations identified as “unproductive” and set to close during the first quarter of this year.
The move is part of Macy’s “Bold New Chapter” strategy, first announced last February. The strategy aims to close 150 underperforming stores over two years and refocus the struggling retailer on “sustainable, profitable sales growth” by investing in 350 of its best-performing locations.
“Closing any store is never easy,” Macy’s CEO Tony Spring said in a statement. “But as part of our Bold New Chapter strategy, we are closing underproductive Macy’s stores to allow us to focus our resources and prioritize investments in our go-forward stores, where customers are already responding positively to better product offerings and elevated service.”
While Macy’s did not confirm exact closing dates for the Brooklyn stores, a representative said clearance sales at traditional locations will begin later this month and last approximately 8 to 12 weeks.
Clearance sales at Macy’s Backstage locations, the company’s off-price retail concept featuring discounted merchandise, will begin in February and last for about six weeks, including at the Sheepshead Bay store.
The closure of the Fulton Street flagship store, first opened in 1995, drew a response from local leaders, including City Council Member Lincoln Restler, who vowed to advocate for the site’s future.
“It’s a sad day for Brooklynites who’ve made countless memories here,” Restler posted on X. “We’ll push to ensure this iconic space continues to maintain a retail presence and collaborate with local businesses to support workers.”
The New York Post reported last month that Macy’s sold its Fulton Street department store for $23 million.
