One of the biggest stories of Tuesday's trading was the news Macy's (M) is closing 150 of its stores over the next three years. Fifty closings will come in 2024, with the remaining 100 in the 24 months after that.
The closures are part of the company's focus on luxury buyers through its Bloomingdale’s and Bluemercury brands. Part of its strategy includes opening 30 smaller stores that aren't in malls over the next two years.
