The iconic but struggling US department store Macy's announced plans on Tuesday to close around 150 locations by 2026, while concentrating investments in its more upscale Bloomingdale's and Bluemercury brands.
The company, which had announced in January it would pare its workforce by 3.5 percent, said in a statement the new strategy aims to open a "Bold New Chapter" to return 166-year-old Macy's to enterprise growth.
