The iconic but struggling US department store Macy’s announced plans on Tuesday to close almost a third of its eponymous locations by 2026 while building up its upscale Bloomingdale’s and Bluemercury brands.
In a new strategy aimed at breathing life into the 166-year-old retailer, the company said it would shut 150 “underproductive” Macy’s locations.
The plan, dubbed a “Bold New Chapter,” said around 50 stores would be closed by the end of the current fiscal year, without mentioning how many employees would be impacted.
The plan comes a week after Arkhouse Management unveiled a proxy challenge to replace nine members of the Macy’s board.
insiderpaper.com/us-retailer-macys-announces-plans-to-close-150-stores/
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