If you shop at Macy’s there is a bit of excitement with their “One Day” sales and super markdowns on items that we all need and love. For some reason, the super sales that they offer to the public, card holders, and frequent shoppers didn’t help their holiday sales. Yesterday the company announced closures and layoffs. The specifics were stated in the press release.
“The closure of 68 stores and the reorganization of the field structure that supports the remaining stores, reinforcing the strategy of fewer stores with better customer experience. These store closures are part of the approximately 100 closings announced in August 2016. The significant restructuring of the Macy’s, Inc. operations to focus resources on strategic priorities, improve organizational agility and reduce expense.”
This news also comes with other retail closures such as Kmart and Sears.