Macy’s, the department store operator, revealed plans for significant changes in its portfolio, closing around 150 namesake stores and concentrating on enhancing higher-end brands like Bloomingdale’s and Bluemercury.
The move comes as part of Macy’s strategy to focus on successful segments of its business while addressing underperforming areas.
Macy’s: Closures and Investments
Bloomingdale’s: Expansion Plans
Bluemercury: Growth in the Beauty Segment
The strategic changes align with Macy’s goal to optimise its store footprint, concentrating on profitable and high-performing segments. The adjustments come shortly after the appointment of former Bloomingdale’s CEO Tony Spring as Macy’s CEO on February 4, indicating a shift in the company’s overall strategy.