UPDATE 1-Department store operator Macy's to close certain stores across US
Adds details on store closures and stock performance from paragraph 2 onwards
Jan 9 (Reuters) - Department store operator Macy's M.N said on Thursday it will close 66 store locations as part of a strategy it announced last year.
The company said it will invest in 350 "go-forward" Macy’s locations across the country through fiscal 2026.
The closures come months after the company announced it would be closing 150 "underproductive" stores over the course of three years as it struggles to get back on its feet after a lackluster 2024.
Macy's stock shed more than 15% in the last twelve months and in December, the upscale retailer cut its annual profit forecast due to weak demand for its apparel and shoes.
(Reporting by Vallari Srivastava in Bengaluru; Editing by Aurora Ellis)
((Srivastava.Vallari@thomsonreuters.com;))
Related Articles
Two Key Things to Watch in Walmart’s Q2 Earnings: Tariff Pressure and E-Commerce Momentum
TradingKey - U.S. retailer Walmart (WMT) will release its Q2 2026 fiscal earnings before the market opens on August 21. As a key barometer of the U.S. economy and consumer health, Walmart’s results will reveal how tariffs are impacting consumer behavior and corporate profits. Another focus is
BHP’s 2025 Playbook: Turning Profit Dips into Strategic Wins
TradingKey - On August 18, 2025, BHP Group announced its full-year results for the 2025 fiscal year. Despite an 8% year-on-year revenue decline to $51.3 billion and a 26% significant drop in underlying attributable profit, which reflects core business performance, to $10.2 billion
U.S. Stock Market Risk Assessment: Learning from History, Mid-Term Outlook Remains Secure
We argue that the Federal Reserve’s monetary policy is the most critical factor influencing the stock market.
Powell's Jackson Hole Speech: For U.S. Stocks, Hawk or Dove Signal Could Be a Lose-Lose?
TradingKey - As U.S. inflation and labor market data show signs of rebalancing, Treasury traders and Wall Street banks have largely priced in a rate cut at the September FOMC meeting — the first of 2025. Yet both a more dovish-than-expected tone and a potential surprise hawkish signal from Fed Chair
Eurozone Q2 GDP Commentary: Will the Euro's Upward Momentum Persist?
TradingKey - On 14 August 2025, Eurostat published Q2 GDP figures, revealing a drop in the Eurozone's quarter-on-quarter growth from 0.6% in the first quarter to 0.1%. Consequently, annual growth eased from 1.5% to 1.4%. The slowdown primarily stems from the diminishing boost from European...
