Macy's to close 150 stores — 30% of its namesake chain — as new CEO takes helm

Macy’s said it will shut down 150 stores — about 30% of its US namesake chain — as the department-store giant tightens its focus on luxury under a new chief executive.The retailer said in a Tuesday filing that the closures slated to take place over the next three years will free up as much as $750 million worth of real-estate assets as the department-store chain focuses on growing its luxury brands.During the same three years, Macy’s plans to add 15 new outposts of its higher-end Bloomingdale’s stores, as w ...