Macy's plans to close 150 stores in the next three years. The company will focus more on luxury sales, including increasing the number of stores in its high-end department store Bloomingdale's.
Macy's has been underperforming for many years and is facing pressure to be acquired. Like many large chain retailers in the United States, the company is trying to turn around profitable growth by deploying new strategies in response to changing market demands and retail environments. (over) ( over) over.