Macy's confirmed it will extend the timeline for closing 150 underperforming stores through 2028, pushing back the original 2026 deadline by two years. The retailer announced the change during its earnings call, citing stronger-than-expected financial performance across all quarters.
CEO Tony Spring noted that Macy's achieved "positive comparable sales for total Macy's Inc. and Macy's Nameplate" and delivered adjusted earnings per share "well above" company guidance. CFO Tom Edwards said the company's "strong balance sheet and cashflow generation" allows flexibility on timing to "maximize value of remaining assets."