Macy’s to shutter 150 stores amid focus on luxury

Department store will close dozens of outlets this year and the rest over a three-year period after issuing muted trading outlook

Macy’s has announced plans to close 150 “underproductive” stores – more than a fifth of its department store empire – over the next three years.

The business said it would shutter about 50 outlets by the end of 2024 after issuing a muted trading outlook for the year ahead.