News

Macy`s set to close stores for more ecommerce business

Thursday 5 January 2017 10:00 CET | News

Macy`s is planning to close 68 stores out of 880 to cope with shrinking in-store sales, which means the elimination of 6,200 jobs.

Macys previously announced plans to close around 100 stores in August 2016 in order to focus spending on its highest-growth-potential locations and new digital tech, zdnet.com reports.

Going forward, Macys will work to align its in-store and online shopping experiences by allocating more funds – approximately USD 550 million – to its digital businesses and ongoing stores.

The changes in customers shopping behaviours include a focus on buy online, pickup in store and mobile-enabled shopping.

Macys revealed that its sales declined by 2.7% in November and December 2016 combined, compared to the same period in 2015.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Macy`s, stores, ecommerce, business, sales, jobs, in-store
Categories: Payments & Commerce
Companies:
Countries: World
This article is part of category

Payments & Commerce






Industry Events