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The Guardian - US

Business

Guardian staff and agencies

Macy’s to shutter 150 stores amid focus on luxury

Macy Luxury Tony Spring

A person holds a Macy's bag outside of a New York location of the store. — In January, Macy’s announced to cut 2,350 jobs. Photograph: Brendan McDermid/Reuters

Macy’s has announced plans to close 150 “underproductive” stores – more than a fifth of its department store empire – over the next three years.

The business said it would shutter about 50 outlets by the end of 2024 after issuing a muted trading outlook for the year ahead.

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