Macy’s, the iconic department store chain, announced plans to close more locations across the United States.
On Thursday, the company disclosed that it will shutter an additional 66 stores as part of a strategic overhaul outlined last year. Macy’s aims to focus its investments on 350 key locations nationwide through the 2026 fiscal year.
This latest wave of closures follows the company’s decision just months ago to shut down 150 underperforming stores.
In December, Macy’s highlighted its challenges by lowering its annual profit forecast, citing declining demand for apparel and footwear.
Over the past year, Macy’s has faced difficulties on Wall Street, with its stock price falling over 15% in the last 12 months. On Tuesday, the company’s shares closed at $16.03, reflecting a 2.02% decline.
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