Macy’s “Bold New Chapter”: A Blueprint for Success in Today’s Retail Landscape?

In a recent article from Forbes, the publication reported that

“Macy’s plans to close 14 underperforming stores this year, after shuttering 66 in 2025 and 55 the year before.”

At first glance, this news likely gives many the impression that Macy’s is another struggling department store chain shrinking to survive. After all, much of the recent retail conversation has centered on store closures, bankruptcies, and once-dominant brands losing relevance in a rapidly changing market.

However, Macy’s current trajectory tells a much more nuanced story.

Rather than signaling decline, these closures are part of a broader strategic repositioning that is beginning to “bear fruit,” as Forbes put it.

Through this multi-year transformation effort, called “A Bold New Chapter,” the company is working to modernize operations, reinvest in stronger stores, and improve the customer experience. And in what is a notable development for the retail industry, those efforts appear to be working.

So, what exactly is Macy’s Bold New Chapter? How is the company finding momentum in a difficult retail environment where others continue to struggle? And what lessons can retailers learn from Macy’s approach?

Let’s take a closer look.

What is Macy's "Bold New Chapter"?

Macy’s first announced its “Bold New Chapter” strategy in early 2024, presenting a sweeping transformation plan designed to reposition the company for long-term success. According to the company, the initiative was “designed to return Macy’s, Inc. to enterprise growth,” marking a shift away from short-term fixes toward a comprehensive reinvention of how the business operates and serves customers.

As part of the announcement, Macy’s outlined three core pillars supporting the plan which, together, aim to modernize operations while strengthening the company’s long-term competitive position. Let’s take a look at each of them:

Strengthen the Macy’s Nameplate

The first pillar focuses on putting customers at the center of Macy’s turnaround by “revitalizing the assortment to improve both relevance and value” while also “modernizing the shopping environment to facilitate a convenient, easy, and frictionless customer experience across channels.” This effort is paired with portfolio optimization, as the company is also “focusing resources by closing approximately 150 underproductive locations… and prioritizing investment in approximately 350 go-forward locations” while continuing to expand smaller-format stores in stronger markets.

Together, these efforts are designed to strengthen the Macy’s nameplate by making its stores more relevant, easier to shop in, and better aligned with what today’s customers expect.

Accelerate Luxury Growth

The second pillar builds on areas already outperforming within Macy’s portfolio. Under this strategy, the company plans to “take advantage of its leadership position in the luxury market… by further growing its store fleet and digital presence,” with expansion plans that include approximately 15 new Bloomingdale’s locations and at least 30 new Bluemercury stores, alongside remodel projects aimed at strengthening performance across both new and existing markets.

Simplify and Modernize End-to-End Operations

The final priority addresses the operational side of the business. Over the coming years, Macy’s plans to “streamline fulfillment, improve inventory planning and allocation, and deliver a scalable technology platform,” aligning operations with evolving omni-channel demand while creating a more efficient operating model that ultimately improves how customers are served.

Altogether, these initiatives were expected to position Macy’s to “successfully drive sustainable, profitable growth and create shareholder value.”

So now, nearly two years after the plan was introduced, let's look at how these expectations are beginning to materialize.

Where Things Stand in 2026: Are the Changes Working?

Recent insight into how Macy’s transformation is progressing comes from a January 2026 letter published by Macy’s CEO Tony Spring, in which he shared updates on the company’s performance nearly two years into its Bold New Chapter strategy. While turnaround efforts of this scale often take years to produce measurable results, Macy’s leadership argues that progress is already visible across multiple parts of the business.

Spring pointed to improving performance in the company’s most strategically important locations, noting that their 125 reimagined stores are

"Continuing to outperform – growing comp sales 2.7% in the third quarter – proving the success of elevated merchandising, store design, and customer experience investments.”

In other words, stores receiving targeted reinvestment are seeing sales growth rather than continued decline.

Momentum is also evident in Macy’s luxury portfolio, where Spring highlighted:

“Sustained strength in luxury with Bloomingdale’s delivering 9% comp sales growth during the third quarter… and Bluemercury delivering its 19th consecutive quarter of comp sales growth.”

These brands continue to outperform much of the broader department store segment, reinforcing Macy’s strategy of investing in higher-growth areas of the business.

Taken together, these results suggest that Macy’s transformation is unfolding largely as the company's leadership envisioned when the “Bold New Chapter” plan was first introduced. While challenges still exist in the broader retail environment, the company’s early performance indicators show measurable progress at a time when many retailers are still struggling to stabilize.

Why Macy's Strategy Is Working While Others Struggle

After seeing Macy’s recent success, the natural question becomes: What exactly are they doing differently that allows them to find momentum while many other retailers continue to struggle? A couple of key factors stand out.

One key difference is that Macy’s has paired its store closures with targeted reinvestment rather than simply shrinking its footprint to cut losses. Many struggling retailers close stores as a defensive move, reducing costs without meaningfully improving the customer experience in the locations that remain open. Macy’s approach has been different. By identifying underperforming stores to close while simultaneously investing in its strongest locations, the company has shifted resources toward stores and markets with the greatest opportunity for growth.

At the same time, those investments have been focused on areas that directly impact how customers experience the brand. Upgrades to store environments, improved merchandising strategies, and efforts to create smoother omni-channel shopping experiences all aim to make Macy’s stores more relevant and enjoyable places to shop. Behind the scenes, operational improvements and supply chain modernization also help ensure products are available where and when customers want them.

In short, Macy’s strategy goes beyond cost-cutting. It focuses on making the business stronger where it matters most, helping the company stabilize and build momentum even in a challenging retail environment.

What Retailers and Store Owners Can Learn from Macy's

So, what practical lessons can retailers and business owners take from Macy’s recent turnaround efforts?

While most businesses are not operating hundreds of stores and multiple brands like Macy’s, the principles behind the company’s strategy can still apply at a much smaller scale. One key takeaway is the importance of focusing investments where they make the greatest impact.

Rather than spreading resources thin, businesses can evaluate which locations, departments, or services perform best and direct improvements there, even if that means scaling back in weaker areas.

Another lesson is the value of continually improving the customer experience. Store layout, merchandising, service quality, and fulfillment capabilities all play a role in whether customers choose to return. Even incremental upgrades to store environments or operations can make a meaningful difference over time.

Ultimately, Macy’s example shows that success does not always come from doing more, but from doing the right things better and investing in the areas that customers value most.

Conclusion: A Playbook for Retail Reinvention in 2026?

Looking at everything we’ve discussed in the bigger picture, with this transformation plan already showing measurable progress, can Macy’s “Bold New Chapter” serve as a blueprint for succeeding in today’s difficult retail environment?

The answer is nuanced, much like the Bold New Chapter plan itself. Macy’s results demonstrate that thoughtful reinvestment, operational improvements, and a renewed focus on customer experience can help retailers regain momentum. At the same time, not every business has the scale or resources available to a company the size of Macy’s, and today’s retail landscape continues to shift in ways that make any single long-term playbook difficult to rely on completely.

Still, Macy’s progress is significant. It offers a useful case study in how businesses can reassess their operations, focus on their strongest opportunities, and invest in the experiences customers value most. And despite the challenges facing retail today, now may be the right time for retailers and business owners to reassess their own operations, apply these principles where they make sense, and begin moving forward with confidence.