Macy’s, the leading department store chain in the United States, is set to shutter 65 locations by the end of 2024 and 150 locations total over the next three years.
During a Wednesday Q3 2024 earnings call, chief financial officer and chief operating officer Adrian Mitchell said “we now expect to close about 65 locations this year, up from our prior expectation of 55 and 50 at the beginning of the year.”
Chairman and chief executive officer Tony Spring said that “closures will occur post-holiday” and added that the move “gets us even closer” to becoming a “more profitable Macy’s, Inc.”
Macy’s, which also owns department store chain Bloomingdale’s and beauty store chain Bluemercury, has yet to specify which underperforming locations will be closed.
Once the 150 stores are closed by 2028, Macy’s will have just 350 — down from the 1,100 it had in 2008, according to the Daily Mail. […]
— Read More: www.breitbart.com
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