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Macy’s Accelerates Store Closures; Will Focus on Fewer, Better-Performing Stores

Executive Summary

  • Macy’s (M) announced that it will close 100 of its 675 full-line stores at the end of its current fiscal year.
  • The company experienced an inflection in sales trends in the second quarter after seeing several quarters of challenging top-line results.
  • Macy’s will operate fewer stores and concentrate on better-performing locations.

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