Macy's Announces Closure of 150 Stores in Turnaround Effort
Macy's plans to close 150 stores by 2026 and focus on expanding its luxury Bloomingdale's and Bluemercury chains, with a goal of reinvigorating customer relationships and creating a more modern shopping experience. The closures, targeting underperforming locations, are part of a strategy shift to streamline operations and compete with smaller-format stores from competitors like Target and Nordstrom. The company also announced layoffs and plans to implement more automation in its supply chain as it adapts to the changing retail landscape.