COLONIAL HEIGHTS, Va. — A longtime Macy's location in Central Virginia will be closing as the department store chain shutters 66 "underperforming" locations across the country.
The Macy's at Southpark Mall at 170 Southpark Circle in Colonial Heights will close during the first quarter of 2025 according to information released by the company on Jan. 9.
“Closing any store is never easy, 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,” Macy’s Chairman and CEO Tony Spring said.
The closure now means there will be 15 Macy's locations in Virginia: Arlington, Chesapeake, Dulles, Fairfax, Fredericksburg, Manassas, McLean, Newport News, North Chesterfield, Richmond (Short Pump), Roanoke, Springfield and Virginia Beach.
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Macy's announced in February 2024 that it would close 150 stores over the next three years, resulting in a 3.5% reduction of its total workforce or roughly 2,350 employees. That will leave open roughly 350 locations when the plan is finished.
The closures are one element of the chain's “bold new chapter” to combat declining sales.
Moving forward, there are plans to expand Macy's portfolio of small-format retail stores, which are about a fifth of the size of its standard department stores, and modernizing the 350 locations it will keep open nationwide.
"Investments in the pilot Macy’s stores - First 50 - have boosted sales for three consecutive quarters and contributed to record customer satisfaction scores for the Macy’s nameplate," officials with the company said.
According to The Associated Press, Macy's reported quarterly sales of $4.74 billion in November, which was slightly above $4.72 billion projection.
This is a developing story. Email the CBS 6 Newsroom if you have additional information to share.
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Scripps News contributed to this report.
