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In a statement obtained by NBC on Tuesday, San Francisco Mayor London Breed said she had learned that Macy's 400,000 square-foot flagship location in the city's Union Square will eventually be ...
150 Macy's stores are set to close by 2026 after the company announced a restructuring plan on Tuesday.. CEO Tony Spring said in a news release that the closures, amounting to about 30% of Macy's ...
TD Cowen puts Macy's real estate at $7.5 billion to $11.6 billion, while JPMorgan values it at $8.5 billion — with Herald Square worth at least $3 billion, according to a client note led by ...
The store closures come as a part of the company's restructuring plan that aimed to cut costs by $100 million annually beginning in the fiscal year of 2019, as reported by Reuters.
At least initially, the stock market's reaction to the news from Macy's seemed to be positive, or at least neutral. As of 11 a.m., the company's stock was up about 3.5%.
In 2020, they closed 29 stores (28 Macy's and one Bloomingdale's) across the country, per CNBC. But now, Macy's is forging ahead and closing 45 more stores in the year ahead in hopes to try out ...
Macy’s is laying off about 3.5% of its workforce, or roughly 2,350 employees, and closing five stores as it continues to shrink its massive retail business for the online shopping era.
This isn't the first time Macy's has announced unfortunate news about store closings in recent years. The department store chain has closed roughly 300 stores since 2015, including closing 45 Macy ...