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Keyword: underproductive

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  • Macy’s closing 150 ‘underproductive locations’

    02/27/2024 8:45:57 AM PST · by ChicagoConservative27 · 47 replies
    The Hill ^ | 02/27/2024 | LAUREN SFORZA
    Macy’s announced Tuesday it will be closing 150 “underproductive locations” over the next three years as sales dip and the company looks to expand its higher-end luxury brands. The department store chain saw nearly a 2 percent drop in sales during the fourth quarter of last year when compared to its fourth quarter of 2022. In 2023 as a whole, its net sales dropped 5.5 percent and its digital sales dropped 7 percent Macy’s new CEO, Tony Spring, who stepped into the role this month, expressed optimism in a statement accompanying the sales report, which was released Tuesday alongside the...