Macy's Inc. to Close Two Connecticut Facilities, Lay Off Over 1,000 Employees
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 22 2026
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Source: Benzinga
- Layoff Plan: Macy's is set to close operations in South Windsor and Cheshire, Connecticut, resulting in over 1,000 layoffs, including 485 fulfillment associates, 193 power equipment operators, and 72 inventory control and quality assurance staff, highlighting the company's strategic response to changing retail dynamics.
- Closure Timeline: The closures are expected to take effect on March 14, 2026, with 57 employees, including 20 warehouse associates, facing layoffs, reflecting Macy's commitment to optimizing operations and reducing costs amid a challenging retail landscape.
- Retail Environment Challenges: Despite achieving sales and profit growth in Q3, CEO Tony Spring warned that the trend of selective consumer spending could impact holiday sales, indicating pressure on the company to adapt to market changes effectively.
- Strategic Transformation: The closures and layoffs are part of Macy's
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Analyst Views on M
Wall Street analysts forecast M stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for M is 21.33 USD with a low forecast of 8.00 USD and a high forecast of 27.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
2 Buy
9 Hold
1 Sell
Hold
Current: 20.020
Low
8.00
Averages
21.33
High
27.00
Current: 20.020
Low
8.00
Averages
21.33
High
27.00
About M
Macy's, Inc. is an omni-channel retail company. The Company operates stores, websites and mobile applications under three brands, Macy's, Bloomingdale's and Bluemercury, which sell a range of merchandise, including apparel and accessories (men's, women's and kids'), cosmetics, home furnishings and other consumer goods. The Company has stores in 43 states, the District of Columbia, Puerto Rico and Guam. Its operations are conducted through Macy's, Macy's Backstage, Macy's small format, Bloomingdale's, Bloomingdale's The Outlet, Bloomie's, and Bluemercury. In addition, Bloomingdale's in Dubai, United Arab Emirates and Al Zahra, Kuwait are operated under a license agreement with Al Tayer Insignia. The principal private label brands offered by the Company include Alfani, And Now This, Aqua, Bar III, Cerulean 6, Charter Club, Club Room, Epic Threads, first impressions, Giani Bernini, Holiday Lane, Home Design, Hotel Collection, Hudson Park, Ideology, I-N-C, jenni, JM Collection, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Dupree Financial Group Sells 486,867 Shares of Macy's
- Share Sale Details: Dupree Financial Group sold 486,867 shares of Macy's in Q4, with an estimated transaction value of $9.97 million, reducing its stake in Macy's to 2.6% of its assets under management.
- Position Value Change: Following the sale, the value of Dupree's position in Macy's dropped by $7.40 million, indicating the impact of market price fluctuations on its investment portfolio.
- Macy's Performance Overview: Despite challenges like low margins and inventory risks, Macy's reported $4.7 billion in revenue in Q3, achieving its strongest comparable sales growth in 13 quarters, showcasing resilience in the retail market.
- Investor Focus: The sale reflects Dupree's strategic shift towards income and defensive investments; although Macy's has outperformed the S&P 500, it remains a tactical holding rather than a core investment, highlighting caution towards cyclical retailers.
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- Market Reaction: Following the announcement, Nike shares fell by 2.05%, nearing their 52-week lows, which challenges market confidence in the company's future performance, with key support at $63.00, below which further declines may occur.
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