After shutting down a handful of stores in 2023, Macy’s has more closures planned for this year.
The retailer has announced another five closings in four states this year. While a store closure near you might help you keep more cash in your wallet, it is never a good feeling to see one of your favorite stores close.
Is your local Macy’s on the chopping block? Check this list to see.
Earn cash back on everyday purchases with this rare account
Want to earn cash back on your everyday purchases without using a credit card? With the Discover®️ Cashback Debit Checking account (member FDIC), you can earn 1% cash back on up to $3,000 in debit card purchases each month!1
With no credit check to apply and no monthly fees to worry about, you can earn nearly passive income on purchases you’re making anyway — up to an extra $360 a year!
This rare checking account has other great perks too, like access to your paycheck up to 2 days early with Early Pay, no minimum deposit or monthly balance requirements, over 60K fee-free ATMs, and the ability to add cash to your account at Walmart stores nationwide.
Don’t leave money on the table — it only takes minutes to apply and it won’t impact your credit score.
Apply for a Discover Cashback Checking account today
California
![macy's famous store](https://cdn.financebuzz.com/filters:quality(75)/images/2024/02/15/macys-famous-store.jpg)
- Bayfair Center — San Leandro, California
- Simi Valley Town Center — Simi Valley, California
Two locations in California are shutting down this year as part of company plans announced in 2020 to reduce the number of its stores.
The move comes after Macy’s closed a location at Baldwin Hills Crenshaw Plaza in Los Angeles in 2023.
Florida
![macy's department store](https://cdn.financebuzz.com/filters:quality(75)/images/2024/02/15/macys-department-store.jpg)
- Governor’s Square — Tallahassee, Florida
Florida made the store-closing list this year, with its only Tallahassee location shutting down.
The retailer will have 40 stores in the Sunshine State after the closure.
Hawaii
![macy's store in honolulu](https://cdn.financebuzz.com/filters:quality(75)/images/2024/02/15/macys-store-in-honolulu.jpg)
- Kukui Grove Center — Lihue, Hawaii
The location in Lihue isn’t the first Macy’s to close in Hawaii.
The retailer closed its location in Kaneohe after over 40 years at Windward Mall. The move will leave eight Macy’s locations in Hawaii, including its three in Honolulu.
Get a protection plan on all your appliances
Did you know if your air conditioner stops working, your homeowner’s insurance won’t cover it? Same with plumbing, electrical issues, appliances, and more.
Whether or not you’re a new homeowner, a home warranty from Choice Home Warranty could pick up the slack where insurance falls short and protect you against surprise expenses. If a covered system in your home breaks, you can call their hotline 24/7 to get it repaired.
For a limited time, you can get your first month free with a Single Payment home warranty plan.
Virginia
![macy's department store manassas](https://cdn.financebuzz.com/filters:quality(75)/images/2024/02/15/macys-department-store-manassas.jpg)
- Ballston Quarter — Arlington, Virginia
Macy’s may have chosen to shut down this location due to redundancy in the area, as Arlington currently has two Macy’s locations.
Last year, the retailer closed another location in the region when it shut down a store in Gaithersburg, Maryland.
Additional employee cuts at Macy’s
![interior of modern shopping mall](https://cdn.financebuzz.com/filters:quality(75)/images/2024/02/15/interior-of-modern-shopping-mall.jpg)
Workers at the closing Macy’s locations aren’t the only ones losing their jobs with the retailer.
This year, Macy’s announced it was cutting 2,350 positions, or around 3.5% of its workforce, as part of its downsizing efforts.
The move is meant to speed up decision-making by eliminating layers of management. Macy’s will eliminate additional positions in favor of automation and outsourcing.
Macy’s isn’t alone with layoffs
![desperate stressed businesswoman](https://cdn.financebuzz.com/filters:quality(75)/images/2024/02/15/desperate-stressed-businesswoman.jpg)
Several other consumer retailers have also announced layoffs in 2024.
Wayfair laid off more than 1,000 employees earlier this year, while Rent the Runway laid off 10% of its workforce in January.
Layoffs also recently hit the beauty sector. In February, Estée Lauder announced it would cut 3% to 5% of its workforce. The brand is available at Macy’s store locations and on Macy’s website.
New opportunities
![macy's sign on flagship store](https://cdn.financebuzz.com/filters:quality(75)/images/2024/02/15/macys-sign-on-flagship-store.jpg)
On the other hand, there are some positive changes for Macy’s shoppers in the future.
Last year, the company announced that it planned to build around 30 new U.S. locations with a smaller real estate footprint.
The locations will be slimmed-down versions of Macy’s, and shoppers will be able to find them in strip malls across the country. So, visiting your local mall might soon be a smart shopping hack if you want to shop at Macy’s.
Bottom line
![accountant with paper and calculator](https://cdn.financebuzz.com/filters:quality(75)/images/2024/02/15/accountant-with-paper-and-calculator.jpg)
If a Macy’s near you is closing, it could make it harder for you to get what you want. However, it could also help you get ahead financially.
Use this opportunity to see if you can find ways to save money by cutting down on the types of purchases you used to make at your local Macy’s.
Lucrative, Flat-Rate Cash Rewards
FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.
Wells Fargo Active Cash® Card
Current Offer
$200 cash rewards bonus after spending $500 in purchases in the first 3 months
Annual Fee
$0
Rewards Rate
Earn unlimited 2% cash rewards on purchases
Benefits
- Low spend threshold for its welcome offer — $200 cash rewards bonus after spending $500 in purchases in the first 3 months
- Cell phone protection benefit (subject to a $25 deductible)
- Can redeem rewards at an ATM for literal cash
Drawbacks
- Foreign transaction fee of 3%
- No bonus categories
- Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
- Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
- Earn unlimited 2% cash rewards on purchases.
- 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 20.24%, 25.24%, or 29.99% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
- $0 annual fee.
- No categories to track or remember and cash rewards don’t expire as long as your account remains open.
- Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.