Macy’s, the iconic department store chain, on Tuesday announced a dramatic reshaping that means closing about 150 Macy’s stores nationwide over the next few years while pumping up its Bloomingdales and Bluemercury brands.
The company has struggled against changes in consumer behavior, with Macy’s middle-class appeal stranded between in-person buying that has been veering down-market toward low-price, “big box” stores on one hand and up-market toward luxury and specialty shops.
Read the full article here
