Macy's, Inc. Confirms Planned Macy's Store Closures

3 days ago  · As previously disclosed, the 66 Macy's locations will close as part of the company's Bold New Chapter strategy Macy's Inc. (NYSE: M) today confirmed the closure of 66 Macy’s …


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Macy's To Close 150 Stores, Or About 30% Of Its Locations

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Feb 27, 2024  · Before the planned store closures, Macy's had been cutting jobs to bring down its costs. In January, Macy's said it would trim 3.5% of its total workforce, or roughly 2,350 …

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Macy’s To Close 150 Stores, Including 50 By Year’s End

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Feb 27, 2024  · YahooFinance reported Macy’s revenue declined to $23.1 billion in 2023, 5.5% lower compared with 2022.Same-store sales were down 6.9%, as digital and in-store sales …

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FAQs about Macy's, Inc. Confirms Planned Macy's Store Closures Coupon?

What happened to Macy's 'bold new chapter' reorganization?

The closures are part of Macy's "Bold New Chapter" strategy, which was announced in February 2024. The reorganization, the company revealed at the time, involved closing 150 stores nationwide within three years and a pivot to a greater focus on luxury sales. ...

Does Macy's have a reorganizational strategy?

Macy's has announced plans to close 66 store locations nationwide as part of an ongoing reorganizational strategy. NurPhoto via Getty Images Macy’s is closing more than five dozen store locations across the United States as part of the company's ongoing reorganization strategy. ...

Why is Macy's closing a store?

“Closing any store is never easy, but as part of our Bold New Chapter strategy, we are closing underproductive Macy’s stores to allow us to focus our resources and prioritize investments in our go–forward stores, where customers are already responding positively to better product offerings and elevated service,” CEO Tony Spring said. ...

Will Macy's close more stores than in 2024?

However, the plan for Macy’s to close even more stores than in 2024 is nothing new. The closures are part of the department store chain’s plan to shutter 150 stores by 2026, which the company announced during second-quarter earnings call on Aug. 21. ...

Why did Macy's close 66 'underproductive' stores?

The retailer confirmed Jan. 9 that it was shuttering 66 "underproductive" stores across 22 states in an effort to "return the company to sustainable, profitable sales growth." The closures are part of Macy's "Bold New Chapter" strategy, which was announced in February 2024. ...

Why did Macy's reorganize?

The reorganization, the company revealed at the time, involved closing 150 stores nationwide within three years and a pivot to a greater focus on luxury sales. The closures would allow the retailer to prioritize its approximately 350 Macy’s remaining locations, as well as Bloomingdale’s and Bluemercury beauty and skin care stores. ...

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