Macy’s confirmed it will close 66 stores across the U.S. The department store chain said Thursday that the move is part of its “bold new chapter” strategy, which was announced in February of last year.
The strategy will see the closure of approximately 150 underperforming stores, or about a third of its locations, over three years.
Download the Straight Arrow app today to get the stories that matter free from manipulation, bias or agenda.™
Point phone camera here
Tony Spring, the retailer’s chairman and CEO, said that while “closing any store is never easy,” this will allow the company to focus its “resources and prioritize investments” in its other locations.
Macy’s told Axios clearance sales will begin this month and run for up to 12 weeks.
