WASHINGTON (TNND) — Department store Macy’s plans to close 65 stores by the end of January 2025, compared to the 50 it originally announced.

CEO Tony Spring made the announcement during a third-quarter earnings conference call on Wednesday, saying it was part of the struggling retailer’s “bold new chapter” to close 150 locations by 2026.

“While we still have much work to do, we believe our bold New Chapter initiatives, including the closure of approximately 65 unplanned locations this year, bring us even closer to our future end state of becoming a more profitable Macy’s, Inc “,” Spring said.

The company’s total net sales were $4.7 billion, down 2.4% year over year and unchanged from what was reported in November.

On the other hand, comp sales rose 3.2%, driven by modern, contemporary women’s apparel and beauty and digital items.

Spring said customers responded well to new brands, including SKIMS and Jenni Kayne.

In November, Macy’s postponed its full third-quarter earnings report and year-end outlook after it discovered that an employee intentionally concealed up to $154 million in expenses over several years.

The retailer said it discovered an issue related to delivery costs in one of its accrual accounts earlier this month. An independent investigation and forensic analysis found that a single employee responsible for expense reporting for small package delivery intentionally made erroneous accrual entries to offset approximately $132 million to $154 million in expenses from the fourth quarter of 2021 through March 2 . to hide the fiscal quarter ending November.

Spring said the independent investigation concluded that the erroneous entries “did not have a material impact on our financial results throughout the period in which the actions occurred.”

Macy’s is among retailers struggling as consumers increasingly shop online and change their purchasing habits due to economic concerns.

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Editor’s note: The Associated Press contributed to this article.