By the end of January 2025, Macy’s will close 65 stores, more than previously planned.

Fast Company reports: Macy’s CEO Tony Spring announced Thursday that the company had originally planned to close about 50 to 55 stores during the same period, but increased the number because “the environment for doing business remains favorable.” . All of the stores scheduled to close are underperforming locations, which were part of the company’s previously announced plan to close 150 locations by 2026.

Macy’s hasn’t said exactly which locations will close and when, but the closures are expected to occur after the holiday season.

The department store chain currently has 38 stores in New York state, including Destiny USA in Syracuse, Crossgates Mall in Albany, the Greek Ridge Center near Rochester, the Walden Galleria in Buffalo and the Poughkeepsie Galleria.

Macy’s Chief Financial Officer and Chief Operating Officer Adrian Mitchell said Thursday that third-quarter net sales were $4.7 billion, down 2.4% from a year earlier and unchanged from November. Macy’s is among a growing list of retailers struggling with changing shopping habits and increasing competition from online brands.

Spring said the total number of Macy’s closures is still expected to be around 150 stores. The company currently has a total of 479 department stores and 24 convenience stores, as well as Bloomingdales and Bluemercury cosmetics properties.

The full third-quarter earnings report was delayed last month after the company said it discovered an employee intentionally concealed up to $154 million in expenses over several years. Spring said an internal investigation concluded that “the erroneous accrual entries … had an insignificant impact on our cumulative financial results and no impact on our liquidity position as all suppliers were paid in full.”