Macy’s makes unexpected closures as customers cut back

Key Highlights

• Also, recent data from Placer. ai showed that foot traffic at Macy’s locations during the quarter declined by almost 11% year over year.
• As sales and foot traffic continued to dip, Macy’s reported a 60% decline in net income compared to the same period in 2024.
• “Looking at the evolving retail landscape, consumers are more discerning about how and where they spend their dollars,” said Macy’s CEO Antony Spring during an earnings call last month.
• The weaker consumer demand follows Macy’s decision to raise prices in its stores last year due to tariffs.
• This was a risky move, since many Americans have been pulling back on spending amid concerns about the state of the U. S.