Department store Macy’s Inc. ($M) on Thursday confirmed the closure of 66 Macy’s store locations, dampening retail sentiment. The store closures are part of what the company termed its “bold new chapter” strategy,

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Roughly 150 Macy's stores will close over the next three years, with these first 66 closures affecting dozens of states in 2025.

The company is announcing about 65 store closures at this time, and a spokesperson tells 13 Action News the company plants to close 150 stores through 2026.

Macy's Inc. has announced the closure of 66 stores nationwide, including the East Memphis location at Oak Court Mall.

Most of the Macy's (NYSE: M) retail stores are expected to close in the first quarter of 2025, but an exact date was not yet specified for the Mesa store closure. The company said that full-size stores that will close in Q1, including the Mesa location, will start clearance sales in January, and that process will last eight to 12 weeks.

Macy's released a list of 66 of the "underproductive" stores it is closing. The retailer plans to close about 150 in its revitalization plan.

The company first announced its "Bold New Chapter" strategy last February, outlining plans to close 150 stores over the next few years and shifting more toward the expansion of its small-format concept.