From CNBC:

Macy’s is closing about 150 namesake stores and focusing on upscale brands like Bloomingdale’s and Bluemercury. CEO Tony Spring aims to maximize profits by improving store locations and cutting underperforming stores. The company also plans to invest in smaller, suburban Macy’s locations to better serve customers.

Sales at Macy’s stores have lagged, leading to the closure of about 150 locations, while investing in improvements for remaining stores. Bloomingdale’s will see 15 new store openings, aimed at high-end shoppers. Bluemercury will expand with at least 30 new stores and strategic remodels, maintaining its strong performance.



Read more at CNBC: Macy’s will close 150 stores, open new Bloomingdale’s, Bluemercury