The Macy’s department store in downtown Los Angeles on 7th Street and a retail cornerstone in the area is closing as the company prepares to close 150 underperforming locations in an effort to transform and modernize his business.

The iconic mall announced this week first 66 closuresincluding nine in California, stretching from Sacramento to San Diego. Shops are being closed in Florida, New York and Georgia, among others. The closures are part of a broader corporate strategy to strengthen sustainability and profitability.

Macy’s isn’t alone in its plan to reduce and revive sales. The retailer Kohl’s announced on Friday that 27 poorly performing stores would be closed by April, including 10 in California and one in the Westchester district of Los Angeles. Kohl’s will also close its San Bernardino e-commerce distribution center in May.

“Kohl’s continues to believe in the health and strength of its profitable store base” and will have more than 1,100 stores following the closures, the company said in a statement.

Macy’s announced last February its plan to suspend operations at about 30% of its stores by 2027 after the company posted disappointing quarterly results that included a $71 million loss and a nearly 2% decline in sales. According to a press release, the company will invest in its remaining 350 stores, which have the potential to “generate more meaningful value.”

“We are closing unproductive Macy’s stores to focus our resources and prioritize investments in our future stores where customers are already responding positively to better product offerings and improved service,” Chief Executive Officer Tony Spring said in a statement. “It’s never easy to close a deal.”

Macy’s brick-and-mortar stores also suffered a setback in January 2024, when the company announced the closure of five stores, including the Simi Valley Town Center location. At the same time, Macy’s announced it would lay off 3.5% of its workforce, equivalent to about 2,350 jobs.

Further north, Walgreens announced this week that it would close 12 stores across San Francisco due to “increased regulatory and reimbursement pressures,” CBS News reported.