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Macy’s will close about 150 department stores, but open new locations of better performing chains

Posted on AllSides February 27th, 2024
From The Center
Michael M. Santiago | Getty Images News | Getty Images

As Macy’s chases sales growth, the department store operator said Tuesday that it will close about 150 of its namesake stores and open more shops with better locations or that sell luxury goods.

The changes reflect a focus on what’s working at Macy’s — higher-end department store Bloomingdale’s and beauty chain Bluemercury — and what’s not — its namesake stores, particularly the ones at struggling malls. In its holiday quarter results posted Tuesday, the retailer said its Macy’s department stores performed worse than both Bloomingdale’s and Bluemercury.

As it reported earnings, Macy’s shared its strategy for...

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https://www.cnbc.com/2024/02/27/macys-will-close-150-stores-open-new-bloomingdales-bluemercury.html

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