The number of brick-and-mortar retail outposts is again on the wane as consumers shift their shopping online, Advertising Age reports.
Macy’s plans to close 100, or 14%, of its 728 stores, the retailer announced Thursday during its second-quarter earnings report. The brand exceeded analyst expectations by reporting a 3.9% drop to $5.7 billion in net sales for the 13 weeks ending July 30. Results were not as grim as the disastrous first quarter, when Macy’s and several brands reported sales declines following a lackluster holiday season…
Read more at the original source: What's behind Macy's plan to chop 14 percent of its stores?
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