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Macy's to close 150 stores, or about 30%
of its locations

Original Article

Posted By: NorthernDog, 2/27/2024 9:53:40 AM

Macy's on Tuesday said it plans to close roughly 150 underperforming stores over the next three years, the struggling retailer's latest effort to energize its business as it seeks to fend off a proposed takeover by activist investors. The department store chain said it plans to focus on expanding its luxury brands, Bloomingdale's and Bluemercury. Macy's will shutter 50 stores over the next year. Overall, the restructuring plan will leave Macy's with 350 outlets. The announcement of the store closures comes after Macy's last month rejected a $5.8 billion takeover offer from investing firm Arkhouse Management and its partner Brigade

Comments:

They plan to focus on luxury goods. In Uncle Joe's economy, the middle class is dying while socialists have money to burn.

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Reply 1 - Posted by: reefdiver 2/27/2024 10:04:53 AM (No. 1666212)
Bidenomics at work. Hope the Libs are happy.
13 people like this.

Reply 2 - Posted by: plomke 2/27/2024 10:09:54 AM (No. 1666214)
Macy's is to retail what McDonalds is to cuisine. Catering to the bottom 12% of the retail spectrum is not working out the way they expected...
18 people like this.

Reply 3 - Posted by: MickTurn 2/27/2024 10:26:01 AM (No. 1666224)
Macy's? Didn't they go Broke decades ago, and the stores carcass has just been laying around?
7 people like this.

Reply 4 - Posted by: snakeoil 2/27/2024 10:44:49 AM (No. 1666247)
Decades ago I had a Mach's card. Then they closed their stores in my city. Now I buy everything from amazon.
5 people like this.

Reply 5 - Posted by: DVC 2/27/2024 11:01:06 AM (No. 1666255)
How much of this is due to massive shoplifting and the company's unwillingness to do anything at all to stop it?
18 people like this.

Reply 6 - Posted by: Safari Man 2/27/2024 11:02:08 AM (No. 1666256)
Given the state of our society (especially in urban areas), Macy's should just sell designer Mace spray for self protection. The Magic of Mace!
9 people like this.

Reply 7 - Posted by: Jesuslover54 2/27/2024 12:14:49 PM (No. 1666308)
No choice. The old sales model just doesn't work anymore.
2 people like this.

Reply 8 - Posted by: formerNYer 2/27/2024 12:16:37 PM (No. 1666309)
How did those trannies work out at the parade this year?? Macy meet Sears.
9 people like this.

Reply 9 - Posted by: 3XALADY 2/27/2024 12:23:11 PM (No. 1666316)
I have shopped at our local (25 miles) store. In the perfume and make up section, there are only 2 or 3 bottles of anything in the case. I guess that is enough. Clothing sections seem to be better stocked. I hope ours doesn't close. It is an alternative to Dillards.
3 people like this.

Reply 10 - Posted by: padiva 2/27/2024 12:49:24 PM (No. 1666333)
I work for another big box retail store. I see the handwriting on the wall. Right now, they are trying to run the store without cashiers. Experiencing a pleasant shopping experience is not a priority.
6 people like this.

Reply 11 - Posted by: mc squared 2/27/2024 12:53:39 PM (No. 1666337)
Not due exclusively to on-line shopping. Macy's has the same opportunity to sell on line. It's the economy stupid!
6 people like this.

Reply 12 - Posted by: lynngirl122 2/27/2024 1:20:14 PM (No. 1666344)
These department stores have been stuck in the seventies they're old, stale and out of date. People will come back if the stores carried something worth buying that appeals to today's market. They deserve to go out of business it's their own fault.
4 people like this.

Reply 13 - Posted by: plaids 2/27/2024 2:09:00 PM (No. 1666371)
Macy's is renovating some stores. They are not interested in stock, but acquiring property. In one Simon Mall, Macy's owns their property and parking lot. They make their own hours of operation which are ludicrous. They hire anyone with a pulse and heartbeat. Stock and supplies are diminishing and online orders are huge but the returns are just as numerous. Associates are treated very poorly. Simply put they don't care. How do I know? as of two weeks ago I was an employee....Not anymore!
10 people like this.

Reply 14 - Posted by: lynngirl122 2/27/2024 3:42:46 PM (No. 1666429)
Last time I was in a Macy's the cashier was asleep behind the register literally ASLEEP.
3 people like this.

Reply 15 - Posted by: DVC 2/27/2024 4:18:26 PM (No. 1666461)
Hmm. I don't think I've ever been in a Macy's. Perhaps, but, if so, long ago and not memorable. Perhaps I ought to go to the one near me and see it before it's gone.
3 people like this.

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