Market Analysis
Macy's to Invest in Core Stores Amid Nationwide Closures
Amos Simanungkalit · 21.3K Views
Image Credit: Reuters
Macy's announced on Thursday that it will shutter 66 store locations as part of a broader strategy revealed last year.
The retailer plans to focus on investing in 350 "go-forward" stores nationwide through fiscal 2026.
This decision follows the earlier announcement of plans to close 150 "underperforming" locations over a three-year period as the company grapples with challenges following a disappointing 2024.
Over the past year, Macy's stock has dropped more than 15%. In December, the company revised its annual profit forecast downward, citing reduced demand for apparel and footwear.
Paraphrasing text from "Reuters" all rights reserved by the original author.
