Macy’s to close 150 stores as part of plan to boost growth, revitalize brand

Shares of Macy’s Inc. fell Tuesday, after the department-store chain announced a plan to revitalize its business that includes closing 150 stores and resulted in a $1 billion charge. Macy’s said the plan also includes monetizing up to $750 million of assets. And in a separate release, Macy’s reported fourth-quarter results that beat expectations.“A Bold New Chapter serves as a strong call to action. It challenges the status quo to create a more modern Macy’s, Inc.,&