NEW YORK STATE - The retail landscape across the Empire State is undergoing a significant transformation as 2026 begins. From the high-traffic corridors of Manhattan to the shopping hubs of Upstate and Long Island, several iconic brands have officially added New York locations to their closure lists. Economic pressures, shifting consumer habits, and corporate restructuring are forcing even the biggest names to reconsider their physical footprints.
1. Macy’s
The iconic department store is continuing its “Bold New Chapter” strategy, which involves closing 150 “underproductive” locations through 2026. While Macy's is upgrading its remaining 350 stores, the cuts are hitting the Empire State directly in this latest wave.
-
The New York Impact: The location at Boulevard Mall in Amherst (1255 Niagara Falls Blvd) has been identified for closure in early 2026. This follows the closure of three Long Island locations in late 2025 (Massapequa, New Hyde Park, and Melville).
2. Rite Aid
After filing for Chapter 11 bankruptcy in late 2025, the pharmacy chain is in the final stages of a massive restructuring. Reports from early 2026 indicate the company is exiting the New York market almost entirely.
-
The New York Impact: Most remaining Rite Aid locations in New York are expected to shutter within the first three months of 2026. Customers with active prescriptions are being advised to transfer them to alternative pharmacies like CVS or Walgreens immediately.
3. Walgreens / Duane Reade
Walgreens, which also owns the New York staple Duane Reade, is moving forward with its plan to close approximately 1,200 stores over a three-year period. The chain cited profitability issues at roughly 25% of its locations.
-
The New York Impact: Locations across the state are being quietly shuttered as leases expire, with significant impacts already seen in Rochester, Ellenville, and New York City neighborhoods.
4. GameStop
The video game retailer is in the midst of a massive "optimization review," with plans to close hundreds of stores nationwide by the end of 2026 as gaming shifts almost entirely to digital downloads.
-
The New York Impact: Over 30 locations in New York are slated for closure this year. Impacted areas include the Poughkeepsie Galleria, Palisades Center Mall in West Nyack, and several spots across Brooklyn and the Bronx.
5. Saks Off 5th
In a major shift toward luxury and full-price selling, parent company Saks Global has announced it will essentially shut down its off-price brand, closing nearly 60 Saks Off 5th locations.
-
The New York Impact: Liquidations are beginning at several New York outlets. On Long Island alone, stores in Deer Park, Riverhead, and Garden City are on the chopping block, with only a dozen locations nationwide expected to remain open.
6. REI (Recreational Equipment, Inc.)
The outdoor co-op is adjusting its presence in major metropolitan areas, citing high operational costs and changing market conditions in urban centers.
-
The New York Impact: REI has confirmed it will close its high-profile SoHo flagship location in New York City later in 2026. This mirrors similar exits from other major cities like Boston and Paramus, New Jersey.
What’s Next?
As these national anchors depart, many New York developers are pivoting toward "experiential" retail and mixed-use spaces. While the loss of these stores is a blow to local malls, it often triggers deep clearance sales for shoppers in the short term.
