With Macy’s and Bloomingdale’s in its portfolio, the company is considered one of the most prominent retailers nationwide, with anchor stores at hundreds of U.S. shopping malls. The retail giant has closed dozens of underperforming stores, many of them in shopping malls, over the past four years, as it invests in its most lucrative properties. Dozens of shopping malls have closed in the past decade, and hundreds more are in decline as they lose key anchor stores. Macy’s did not specify which locations it plans to close but said closures would be in “lower tier” malls. In addition to about 600 department stores, the company operates 171 Bluemercury beauty shops and has been building up its fleet of Macy’s Backstage outlets.

Source: Washington Post February 04, 2020 21:35 UTC