Macy's said it would close stores in "lower tier" malls, and explore new off-mall formats, as it looks to tackle plummeting mall traffic in the United States. "We will focus our resources on the healthy parts of our business, directly address the unhealthy parts of the business and
- Macy's Inc said on Tuesday it plans to close 125 of its least productive stores over the next three years to tackle slowing mall traffic and will slash more than 2,000 corporate jobs as a part of a cost-savings effort.
Macy's said it would close stores in"lower tier" malls, and explore new off-mall formats, as it looks to tackle plummeting mall traffic in the United States. "We will focus our resources on the healthy parts of our business, directly address the unhealthy parts of the business and explore new revenue streams," Chief Executive Officer Jeff Gennette said in a statement.
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