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Macy’s on Thursday said it will cut about 3.5% of its workforce and close five of its namesake mall locations as the legacy department store moves to trim costs and turn around slowing sales.
Macy’s is opening up to 30 of these new-style locations beginning in 2024 and through the fall 2025, according to an October announcement.
The department store chain has announced plans to close approximately 150 stores across the country through 2026, including 50 locations this year alone. Macy's described the stores set to be ...
Macy's, Inc. Macy's, Inc. (previously Federated Department Stores, Inc.) is an American holding company of department stores. Upon its establishment in 1929, Federated held ownership of the regional department store chains Abraham & Straus, Lazarus, Filene's, and Shillito's. Bloomingdale's joined Federated Department Stores the next year.
Macy's Herald Square (originally named the R. H. Macy and Company Store) is the flagship of Macy's department store, as well as the Macy's, Inc. corporate headquarters, on Herald Square in Manhattan, New York City. The building's 2.5 million square feet (230,000 m 2 ), [4] which includes 1.25 million square feet (116,000 m 2) of retail space ...
Greenspoint Mall is a shopping mall located in the Greenspoint neighborhood of Houston, Texas, at the northeast corner of Interstate 45 and Beltway 8 (also known as the Sam Houston Parkway/Tollway). The only remaining anchor is Fitness Connection, which occupies half of the former Lord & Taylor / Mervyn's store on the west side of the mall.
Macy's Inc., the iconic New York City-based department store chain and sponsor of its namesake Thanksgiving parade, plans to close 150 stores over the next three years.
However, Macy's recently rejected a takeover offer, saying it undervalued the firm. Wall Street's immediate reaction to Tuesday's announcement was negative, with shares trading more than 2% lower ...