Published 2 months ago

Macy’s is closing 150 stores as part of a major turnaround effort

Macy's plans to close 150 underperforming stores, focusing on improving remaining ones to enhance customer experiences and value. Macy's is also targeting job cuts to reduce costs.
Macy's shifts focus to upscale Bloomingdale's and Bluemercury brands, planning to open new stores within the next three years. The company aims to revitalize relationships with customers through enhanced shopping experiences and relevant assortments.
Macy's strategy involves opening smaller stores away from malls, remodeling existing stores, and upgrading private brands to attract more customers and improve profitability. The company plans to enhance its beauty chain presence through new store openings and remodels.

Insights by Ground AI

Does this summary seem wrong?

0 Articles

All

Left

Center

Right

The Guardian

Macy’s to shutter 150 stores amid focus on luxury

Department store will close dozens of outlets this year and the rest over a three-year period after issuing muted trading outlook

2 months ago·London, United Kingdom

Read Full Article

Associated Press News

Macy's to close 150 stores as sales slip

Macy’s will close 150 unproductive namesake stores over the next three years, including 50 by year-end. The company made the announcement Tuesday after posting a fourth-quarter loss and declining sales.

2 months ago·United States

Read Full Article

USA Today

Macy's to shut down 150 'underproductive' store locations by 2026, company announces

Macy's announced Tuesday it will shut down 150 stores through 2026, with 50 locations shuttering this year.

2 months ago·United States

Read Full Article

abc News

Macy's to close 150 stores as sales slip as it pivots to luxury at Bloomindale's and Blue Mercury

Macy’s said it will close roughly 150 locations through 2026, as the company tries to become a more nimble operation

2 months ago·United States

Read Full Article

CNN

Macy’s is closing 150 stores

Macy’s is getting a new, smaller, but more luxurious look designed to turn around the troubled retailer and keep the century-and-a-half old brand relevant to rapidly changing demands from shoppers.

2 months ago·Atlanta, United States

Read Full Article