Macy's says it will close 150 stores nationwide in the next two years. The details of the announcement came early Tuesday morning in an earnings call with investors.
Macy's says it will close 150 stores nationwide in the next two years. The details of the announcement came early Tuesday morning in an earnings call with investors. We're waiting to find out which stores in the Bay Area are on that closure list.Macy's is the largest department store chain in the nation.It owns not just 350 Macy's stores, but it is also the parent company of Bloomingdale's and the cosmetic store, Blue Mercury.
A new CEO, Tony Spring, took over the company last year and investors had threatened to take the company private if it didn't turn things around.On the earnings call, Spring said he had identified 150 stores that the company is calling the "non-go-forward" locations. Those Macy's store losses will be Bloomingdale's gains.
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