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Paramus NJ, Macy’s, Inc. (NYSE: M) has confirmed the planned closure of 66 stores across the country including one in New Jersey in West Orange as part of its transformative “Bold New Chapter” strategy. This initiative, announced in February 2024, aims to drive sustainable, profitable growth by streamlining the company’s store portfolio and investing in key locations.
Continue reading Macy’s Announces Closure of 66 Stores as Part of “Bold New Chapter” Strategy
the staff of the Ridgewood blog
Paramus NJ, Macy’s is ramping up its store closure plans, announcing it will shutter 65 locations by the end of the fiscal year—an increase from the 50 closures previously planned. This move is part of a broader strategy to eliminate approximately 150 underperforming stores over the next three years.
Continue reading Macy’s to Close 65 Stores in 2024 Amid Retail Industry Challenges
the staff of the Ridgewood blog
Paramus NJ, Macy’s Inc. plans to close 125 department stores over the next three years, an admission that a fifth of its locations cannot thrive as shoppers buy more online and make fewer trips to malls.
Macy’s will reportedly plans to shut 125 stores over the next three years and slash about 2,000 corporate jobs. Earlier on Tuesday, Macy’s had confirmed with CNBC it was closing its tech offices in San Francisco, consolidating these operations in New York and Atlanta.
The department store chain plans to exit weaker shopping malls, and instead will shift its focus toward opening smaller-format stores in strip centers, according to a report in The Wall Street Journal.
the staff of the Ridgewood blog
Paramus NJ, Macy’s said Wednesday that it will close 28 of its namesake department stores and one Bloomingdales location as part of its annual review process.
The company operates about 680 department stores and 190 specialty stores. Many industry watchers expect department store operators will need to shutter more locations in order to become more profitable.
Macy’s has already been through several rounds of store closures in recent years. In November, Macy’s CEO Jeff Gennette said Macy’s was seeing weaker-than-expected performance at “lower-tier malls.”
POSTED 8:09 PM, JANUARY 6, 2016, BY ANDREA CAVALLIER AND ASSOCIATED PRESS, UPDATED AT 08:11PM, JANUARY 6, 2016
NEW YORK — Macy’s is closing dozens of stores and cutting thousands of jobs across the United States after disappointing holiday sales.
The Cincinnati-based department store chain says sales fell 5.2 percent in November and December at existing stores. Warm weather and lower spending by international tourists hurt sales.
The company also listed Wednesday which 40 stores it would close.
Macy’s to Pay $650,000 to Resolve Bias Inquiry
By ALAN FEUERAUG. 20, 2014
After an 18-month investigation, Macy’s has agreed to pay a $650,000 fine and hire an independent monitor to address complaints that minority shoppers faced heightened surveillance and, in some cases, wrongful detention at its flagship store in Midtown Manhattan.
The investigation, conducted by the state attorney general’s office, reviewed the internal “loss prevention” procedures employed by Macy’s at its Herald Square store as well as allegations that black and Hispanic shoppers were unfairly targeted by security officials. The inquiry found that Macy’s “detained African-Americans, Hispanics and other minorities for allegedly shoplifting at significantly higher rates relative to whites,” a settlement agreement to be released on Wednesday said.
“This agreement will help ensure that no one is unfairly singled out as a suspected criminal when they shop in New York,” the attorney general, Eric T. Schneiderman, said in a statement set to accompany the release of the settlement document, which covers all 42 Macy’s stores in New York State.
The deal with Macy’s comes a week after Mr. Schneiderman’s office reached a similar one with Barneys New York, which agreed to pay $525,000 and institute a host of reforms aimed at addressing allegations of racial profiling at its Madison Avenue store.
The Macy’s investigation included a review of complaints since 2007 from 18 minority shoppers who claimed they had been improperly detained at the Herald Square store. Among those who complained were a black woman confronted by security workers while riding an escalator with merchandise openly draped over her arm, and a black man in the store to exchange goods.
https://www.nytimes.com/2014/08/20/nyregion/macys-to-pay-650000-to-resolve-bias-inquiry.html?_r=0
Ashley Rae Goldenberg
After Macy’s announced the company will be joining NBCand severing ties with presidential candidate Donald Trump, Trump has responded by issuing a statement declaring, “Clearly, NBC and Macy’s support illegal immigration.”
In his statement, Trump writes,
“Clearly, NBC and Macy’s support illegal immigration, which is totally detrimental to the fabric of our once great country. Both Macy’s and NBC totally caved at the first sight of potential difficulty with special interest groups who are nothing more than professional agitators, who are not looking out for the people they purport to represent, but only for themselves. It is people like this that are actually running our country because our leaders are weak and ineffective.”
https://www.mrctv.org/blog/trump-nbc-macys-support-illegal-immigration#.m8wpb1:RxEQ