Macy’s, the struggling department store chain, is planning another round of store closings and job cuts. Jeff Gennette, Macy’s chief executive, first announced the news in an interview with The Wall Street Journal. Macy’s, which also owns Bloomingdale’s and the off-price Macy’s Backstage chain, has been working to adjust its enormous brick-and-mortar portfolio to suit the shopping habits of today’s consumers. In 2016, the company announced plans to shutter 100 stores, which it later said would include the elimination of more than 10,000 jobs. The 125 stores will be in “lower tier” malls, Macy’s said, highlighting the widening chasm between America’s best and worst malls as a variety of chains trim their store portfolios in the digital age.

Source: New York Times February 04, 2020 21:54 UTC