Macy's to Invest in Core Stores Amid Nationwide Closures

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.