Macy's to Shut Down 150 Stores

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To achieve this, Macy’s plans to close 150 underperforming stores by 2026, reducing its total number to 350.

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The focus will shift towards strengthening Bloomingdale’s and Bluemercury, which have shown better performance compared to Macy’s.

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This strategy aligns with changes in consumer behavior, particularly the growing demand for luxury brands amid a shrinking middle class.

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Macy’s will also introduce smaller standalone stores outside of malls, reflecting a preference for more compact shopping destinations.

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Macy’s struggles have attracted attention from activist investors, prompting the company to reject a bid to go private and face a proxy fight for control of its board.

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The new CEO, Tony Spring, emphasizes a customer-centric approach focused on enhancing the shopping experience and offering compelling value.

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Macy’s plans to invest in its digital presence and slim down its product offerings to better meet customer preferences.

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Expansion plans include opening new Bloomingdale’s and Bluemercury stores while remodeling existing ones, aiming for sustained profit growth in the future.

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