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Bluemercury

Business
Macy's To Close 150 Stores, Prioritize Luxury Brands Macy's To Close 150 Stores, Prioritize Luxury Brands
Macy's To Close 150 Stores, Prioritize Luxury Brands Macy's plans to close about 30 percent of its remaining stores over the next three years. The 150 closures will be at underperforming locations, with 50 planned for this year, the retailer announced on Tuesday, Feb. 27, unveiling what it is calling "A Bold New Chapter" strategy designed to return Macy’s profitability.  "It challenges the status quo to create a more modern Macy’s, Inc.," Tony Spring, chief executive officer of the company said in a statement. "We are making the necessary moves to reinvigorate relationships with our customers through improved shopping experiences, releva…

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by Joe Lombardi
News
COVID-19: Macy's To Furlough Most Of Its 130,000 Workers COVID-19: Macy's To Furlough Most Of Its 130,000 Workers
Covid-19: Macy's To Furlough Most Of Its 130,000 Workers Having lost most of its sales amid the novel coronavirus (COVID-19) pandemic, Macy's says it will furlough most of its workforce of 130,000, which includes its subsidiary retailers Bloomingdale’s and Bluemercury. Macy's made the announcement on Monday, March 30, about two weeks after all its stores closed on Wednesday, March 18 due to the outbreak. "While the digital business remains open, we have lost the majority of our sales due to the store closures," Macy's said in a statement.  Macy's said it's already taken measures to maintain financial flexibility, including suspending t…

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by Zak Failla