Macy's is closing 66 stores. Here's where they're located
Published On Jan 10, 2025, 1:46 PM
Macy's plans to close 66 underperforming stores across 22 states as part of its 'Bold New Chapter' initiative aimed at improving profitability. This is a move to simplify operations and focus on higher-performing locations. The retailer will close a total of 150 stores by 2026 and intends to invest more in successful stores while also expanding the Bloomingdale's and Bluemercury brands. The 'First 50' stores in the revamped strategy have shown positive sales growth, although the company reported a slight decrease in overall revenue in a recent quarter.
Stock Forecasts
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Negative
Given Macy's strategy to close underproductive stores, focus on more profitable locations, and improve operations, this could enhance overall business efficiency in the long run. However, the immediate impact of store closures may weigh negatively on sales and investor sentiment, suggesting caution in the short term.
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