Macy's to shutter 150 stores amid focus on luxury

Macy’s has announced plans to close 150 “underproductive” stores – more than a fifth of its department store empire – over the next three years.The business said it would shutter about 50 outlets by the end of 2024 after issuing a muted trading outlook for the year ahead.As part of what it calls a “bold new chapter”, the retailer – which in January announced plans to cut 2,350 jobs, or 3.5% of its workforce – said it would concentrate more on luxury shopping.As part of this focus, Macy’s plans to open 15 of ...