Macy's to Close More Stores?
Macy's is taking a hard look at its real estate portfolio, including nearly 800 stores nationwide, as it seeks to appease impatient shareholders concerned about sliding retail sales. The Cincinnati-based retailer is deciding which 40 stores it plans to shutter in early 2016. The move, for which details could be revealed as early as this week, is part of the company's plan to eliminate weaker-performing stores and make its operation more efficient. CEO Terry Lundgren told analysts last month the company expects to close more stores in the future.