The doorway to Macy's Division Retailer in a mall.Jeffrey Greenberg | Common Photographs Group | Getty PhotographsMacy's is eyeing extra retailer c
The doorway to Macy’s Division Retailer in a mall.
Jeffrey Greenberg | Common Photographs Group | Getty Photographs
Macy’s is eyeing extra retailer closures as a part of its annual evaluate, The Wall Avenue Journal reported Wednesday.
The closures embrace 28 Macy’s shops and one Bloomingdale’s location, the report mentioned, citing an organization spokeswoman. Macy’s operates about 68 department shops and 190 specialty shops.
A Macy’s spokeswoman wasn’t instantly accessible to touch upon the report when contacted by CNBC.
Shares of the division retailer have been up practically 5% in buying and selling Wednesday, after the company reported that holiday sales were better than some had feared.
Identical-store gross sales on the shops it owns and licenses fell 0.6% throughout November and December. At shops it has owned for a minimum of a yr vacation gross sales fell 0.7%, the corporate mentioned Wednesday.
For the fiscal fourth quarter, which incorporates the important vacation season, analysts had been calling for a 1.75% decline in same-store gross sales, in line with a ballot by Refinitiv.
Macy’s has been making an attempt to win again clients, as customers head to the mall much less often and store extra on-line. The division retailer has been refreshing its interiors and specializing in bettering its product assortment.
Macy’s CEO Jeff Gennette mentioned clients have been responding to the contemporary merchandise and its advertising, significantly within the…