Sinking sales and profits, plunging net income and same-store sales, and evolving customer shopping preferences and patterns have, unfortunately, shadowed venerable retailer Macy’s during the past couple of years.
This week company officials announced a series of actions to streamline its store portfolio, intensify cost efficiency efforts, and execute its real estate strategy (including the closure of 69 stores and the reorganization of the field structure that supports the remaining stores, reinforcing the strategy of fewer stores....