Macy’s to close 150 stores — 30% of its namesake chain — as new CEO takes helm
Macy’s, which has entered its 166th year in business, has been struggling recently with weak demand as customers cut back on spending due to stubbornly high inflation and elevated borrowing costs
By News on the Net -- New York Post—— Bio and Archives--February 27, 2024
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Macy’s said it will shut down 150 stores — about 30% of its US namesake chain — as the department store giant tightens its focus on luxury under a new chief executive.
The retailer said in a Tuesday filing that the closures slated to take place over the next three years will free up as much as $750 million worth of real estate assets as the department store chain focuses on growing its luxury brands.---More...
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