Macy’s to close 150 stores in new turnaround effort, forecasts weak 2024 sales
On Tuesday, Macy’s projected annual sales and profits below expectations, announcing plans to close approximately 150 stores by 2026 as part of a new strategy to achieve $100 million in cost savings this year. Despite the lower-than-anticipated forecast, Macy’s shares saw a 7% increase as the department store chain surpassed quarterly profit estimates. However, its performance has trailed behind competitors in 2023, with a 3% … Continue reading Macy’s to close 150 stores in new turnaround effort, forecasts weak 2024 sales
