Macy's Reportedly Will Close 45 Stores by Mid-2021 [Yahoo! Finance News]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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Source: Yahoo! Finance News
Department store chain Macy's(Get ReportThe retail chain has reportedly told employees at 45 locations that the stores will shut down by midyear,according to CNBCThe closures are part ofpreviously announced plans to close 125 storesLiquidation sales have started at some locations, and the rest are slated to start later this month, CNBC reported.CNBC could not immediately obtain a list of the roughly 45 locations.“As previously announced, Macy’s is committed to right-sizing our store fleet by concentrating our existing retail locations in desirable and well-trafficked A and B malls,” a spokeswoman told CNBC in a statement.“To that end, we announced several store closures today that align to the guidance we provided in February 2020. These closures bring us closer to achieving the right mix of mall-based stores.”Last month, Jefferies analyst Stephanie Wissinkupgraded Macy's to buy on expectations of increased discretionary spendingThe Cincinnati chain, the analyst said "needs to aggress
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