Macy’s to Close 28 Stores After a Holiday Season That Could Have Been Worse
Macy’s has announced it is closing at least 28 stores after the holiday season delivered results not quite as bad as what investors were bracing for. Still, sales dropped, and managing director of GlobalData Retail Neil Saunders had some harsh words for the retailer. He called the store closures a taste of things to come if Macy’s cannot turn things around on the store level.
In a statement sent to USA TODAY, Neil Saunders, managing director of GlobalData Retail, said most of Macy’s legacy stores “looked shabby and lacked festive cheer. In our view, they remain unfit for purpose and there is a big question mark over their long-term future.”