Department store operator Macy’s will close some stores across the US By Reuters


(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.

© Reuters. FILE PHOTO: The Macy's logo is pictured on the side of a building in downtown Los Angeles, California, US, March 6, 2017. REUTERS/Mike Blake/File Photo

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.





Source link

  • Related Posts

    Whitehall is preparing for spending cuts after the UK was hit by the bond market turmoil

    Unlock Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favorite stories in this weekly newsletter. Whitehall departments are bracing for tougher spending settlements this summer as…

    Access to this page has been denied.

    Access to this page has been denied because we believe you are using automation tools to navigate the website. This can happen as a result of the following: Javascript is…

    Leave a Reply

    Your email address will not be published. Required fields are marked *