Macy's aims to close 150 "underproductive" stores over three years, while investing in the 350 locations it has deemed worth continuing to operate as part of its "Bold New Chapter

Macy’s on Thursday named 66 stores it plans to shutter this year through its "Bold New Chapter" initiative. The locations are spread across 22 states.

Macy’s unveiled for the first time which 150 stores will be shuttered over the next three years. The closures are just the first step in the retailer’s so-called “Bold New Chapter” strategy, which it hopes will “return the company to sustainable,