A year ago, Macy’s embarked on the store segmentation strategy a spokesperson referred to on Wednesday, which entails flagships (including its Herald Square, New York location), magnet stores (dubbed “Growth 150”) and neighborhood stores — each with its own customer base, level of investment and potential.
In the email on Wednesday, the spokesperson also noted that “Macy’s, Inc. regularly reviews its store portfolio,” and in November, CEO Jeff Gennette hinted strongly that stores would close this year. The company has wasted little time in doing so, although a year ago, it told Retail Dive that the drastic reduction in its footprint announced in 2016, the closure of 100 stores across the country, was complete.
