Macy's Implements "Bold New Chapter" Strategy, Closing 14 Stores and Focusing on Luxury Expansion and Supply Chain Improvements.

Macy's is closing 14 stores as part of a plan to shutter 150 locations by 2026, focusing on luxury business expansion and supply chain improvements. The company's strategic stores have seen a 2.7% rise in comparable sales, while Bloomingdale's reported a 9% increase in Q3. Macy's stock has more than doubled since June. The company's revenue has grown modestly at 0.3% over the past three years, but earnings growth has been challenging with a one-year decline of 25.2%.