Macy's to Close 150 Stores and Expand Bloomingdale's
Macy's announced plans to close about 150 stores over the next three years while expanding its upscale Bloomingdale's and Bluemercury chains as part of a new strategy to achieve sustainable, profitable growth under its new chief executive, Tony Spring. The company aims to accelerate market share gains and value creation for shareholders by streamlining its operations and focusing on more productive locations, with the goal of generating $600 million to $750 million from the sale of these stores and warehouse streamlining.