(Reuters) – Department store operator Macy’s (NYSE: ) said on Thursday it would close 66 store locations as part of a strategy announced last year.

The company said it will invest in 350 “forward” Macy’s locations nationwide through fiscal 2026.

The closures come months after the company announced it would close 150 “underproductive” stores over the course of three years as it struggles to recover after a lackluster 2024.

Macy’s stock has fallen more than 15% in the past twelve months and in December, the upscale retailer cut its annual profit forecast due to weak demand for its clothing and shoes.