Good Lifestyle

Although they are once an important part of American social life, shopping centers die slowly in recent decades - and retailers who have found their success in these shopping centers also have trouble staying afloat. Over the past two years, several channels of popular shopping centers, including Banana Republic ,, Bath & Body Works ,, Dillard and Sears have closed stores in the United States and now another shopping center from the shopping center announces even more closures. Read more to find out why Macy's closes 150 more stores while buyers abandon the brand.

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Macy's has slowly reduced its workforce in recent years. In 2020, the department store announced that it would close 125 of its stores Over the next three years, as part of his "Polaris transformation strategy". As a spokesperson for Macy explained previously has Better life , part of this strategy is focused on optimizing the company's fleet of stores to ensure that it has the "good mix of stores in terms of preparation and leave".

We saw the plan take place with continuous closures in 2023. But at the beginning of this year, Macy's revealed that this was not done. In a memo sent to employees on January 18, the Confirmed company that it would be to cut 2,350 jobs and Closing of five stores To reduce costs, Wall Street's journal reported.

"Despite our strong and tangible progress in recent years, we remain under pressure." Jeff Gennette , CEO now form Macy, and Tony Spring , The president and CEO of Macy at the time, wrote in the memo, according to the Wsj .

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A month later, it is clear that pressures continue for this company. In a February 27 press release , Macy announced its financial results from the fourth quarter and the whole year 2023. According to the report, the company's net sales fell by almost 2% in the last quarter, which resulted in a decrease of 5.5 % of net sales for the entire year 2023.

The fall was particularly visible for the homonymous brand of the company. Macy's comparable sales experienced the largest drop in the fourth quarter, down 6.0%. "Macy's signage plaque has seen the strength of beauty, in particular scents and prestigious cosmetics, and its company reduced behind the scenes, while women's shoes have seen the continuous sweetness with relatively more performance Low in cold clothing and accessories, "said the company in its version.

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With the publication of its latest financial results, Macy's Inc. also announced a new strategy for the company when it is advancing. Called "a new bold chapter", this plan is "designed to create a more modern Macy's that should generate a significant value for our shareholders in the coming years," the company said in its press release. AE0FCC31AE342FD3A1346EBB1F342FCB

A main section of this new strategy focuses on the closure of 150 other Macy stores over the next three years. THE " Underproductive locations "It plans to close represent 25% of the overall area of the company, but only 10% of sales, The New York Times reported.

The company should close around 50 of these stores during this current exercise, and the rest by the end of 2026 - leaving only around 350 Macy stores in the United States after this new set of closures.

"We have to focus on the best stores, not the largest number of stores," said Spring, the new CEO of the company, during a call with analysts, by The New York Times .

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Macy's, Inc. also has two high -end channels: Bloomingdale and Bluemercury. Although the company is on the reduction of the scale of Macy stores, it plans to extend the other two channels. This will include About 15 New Bloomingdale stores and at least 30 new Bluemercury stores over the next three years, CNBC reported. The company should also renovate around 30 Bluemercury stores existing during this period.

As Spring explained to CNBC, this is part of the company's plan to take a clear look at its activities, in particular with regard to its homonymous stores in difficulty.

"Yes, there are opposite winds, certainly on the discretionary categories and the intermediate income consumer, but we take responsibility for what we control," he said. "Put better products in our stores. Make sure it is appropriately merchandis. And then we have more conversion opportunities and more [market]."

Better life Contacted Macy on these new plans, and we will update this story with their answer.