Macy’s to close 125 low-performing stores over 3 years

Macy’s will close 125 low-performing stores, roughly a fifth of its locations, in the next three years as it revamps its branding and shifts to smaller locations in strip malls.
The retailer told the Wall Street Journal it also will cut some 2,000 office jobs, or 10% of its corporate staff.
Macy’s will operate 400 locations when the new closures are complete.
“Our goal is to reclaim and revitalize what a department store should be,” Macy’s Chief Executive Jeff Genne