One of the nation's largest retail stores has just announced plans to close 150 stores soon. With several of those stores are expected to close before the end of the year.

Macy's to Close 150 Stores Nationwide

Macy's announced on Tuesday that they would close 150 stores over the next three years — with at least 50 of those closing by the end of the year.

Shoppers Head To The Stores For Some Last Minute Christmas Gifts
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The reason for the closures? The large retail chain posted a fourth-quarter loss due to declining sales, they announced on Tuesday (February 27).

By 2026, it will have 350 Macy’s stores, reports. As of today, they operate approximately 508 stores worldwide.

Will Macy's Close Stores in Pennsylvania on New Jersey

An immediate list of which stores may be on the chopping block was not immediately made available by the company.

Exterior of Macy's Store in New York City
Getty Images

They say that the upcoming closures will account for less than 10% of the company's total sales.

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Currently, Macy's operates a total of 22 stores in the state of Pennsylvania, according to their website. Meanwhile, they operate 25 stores in New Jersey.

READ MORE: Macy's Lays Off 3.5% Its Employees

In fact, in January we asked if the Macy's Store in the Quaker Bridge Mall in Lawrence, NJ was on the chopping block.

Macy's Quaker Bridge Mall

And, as of now, that store remains fully open with no public plans to close. 

Macy's Will Expand in Other Ways

The popular retailer has plans to expand their footprint in other ways.

They'll make a bit of a pivot toward luxury. They announced plans to open 15 Bloomingdale's stores and 30 Blue Mercury cosmetics locations in the coming months, they said on Tuesday.

Back in October, they announced plans to add up to 30 small-format locations through the fall of 2025. They're expected to continue that expansion later this year, The Philadelphia Inquirer reported.

Ready, Set, Pink! Event At Bloomingdale's King of Prussia
Getty Images for Bloomingdale's

“We are making the necessary moves to reinvigorate relationships with our customers through improved shopping experiences, relevant assortments and compelling value,” the company's CEO Tony Spring said in a statement on Tuesday.

The Sad State of This Once-grand Shopping Mall in New Jersey

A look inside Hamilton Mall in Mays Landing.

Gallery Credit: Chris Coleman

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