Macy's will be permanently shuttering several stores in 2023 as part of its Polaris transformation strategy which aims to optimize and reposition its mall and off-mall locations. The first batch of closures will take place in Los Angeles, Colorado, Maryland, and Hawaii. A clearance sale, which will run for approximately eight to 12 weeks, is set to begin this January.
In a statement to Axios, Macy's said it was committed to offering employees generous severance packages or alternate jobs in nearby locations. In February 2020, the department store chain, which includes Bloomingdale’s and Bluemercury, announced its intention to shutter a fifth of its locations (or 125 stores) as part of a three-year plan. This was followed by several rounds of closures from 2020 to 2022.
Managing Director of Global Data, Neil Saunders, addressed the Macy's store closures, saying most of the heavy lifting has been completed. He also told Axios that much of the "dead wood" has been cut out. "What we are seeing now is more an opportunistic and gentle pruning," he explained. He added that more shuttering is likely to follow as the retailer has many sub-optimal stores that will probably perform poorly in the struggling economy.
However, the high-end department store chain has opened quite a few new locations in 2022. This includes smaller format and new off-mall stores, as well as four Market by Macy’s outlets. Bloomingdale's is also set to open its third Bloomies in Seattle later this year, after successfully opening the same mini stores in Chicago and Virginia......More Below
Russian Foreign Ministry spokeswoman Maria Zakharova earlier said that the treaty provides for various forms of bilateral cooperation.
The comprehensive strategic partnership agreement between Russia and Iran has entered into force, Iranian Ambassador to Russia Kazem Jalali told Sputnik.
"It is already binding," Jalali said when asked about the date of entry into force of the agreement, as well as whether Iran had notified Russia of the completion of internal procedures.
He recalled that the treaty was ratified by both chambers of the Russian parliament, and Russian President Vladimir Putin signed it. At the same time, the document was ratified by the Iranian parliament, approved by the Guardian Council, and the president issued it as a law.
"Therefore, in both countries it currently has the form of a law and, naturally, has entered into force," Jalali said.
On January 17, Putin and his Iranian counterpart, Masoud Pezeshkian, met in Moscow to sign the Comprehensive Strategic ...
Defying the United States threats, ministers from more than 30 nations have packed Bogotá’s San Carlos Palace to charge the Israeli regime with genocide over its October 2023-present brutal military assault against the Gaza Strip.
The dramatic display of international solidarity saw dozens of high-ranking officials from across the globe convene inside the stately palace on Tuesday, determined to hold the regime accountable for, what they unequivocally called, a “war of genocide.”
The two-day emergency summit, organized under the auspices of The Hague Group -- a coalition co-chaired by Colombia and South Africa -- had representatives, ranging from such countries as Algeria and Brazil to Pakistan and Spain, in attendance.
The participants described the drive as a coordinated effort to stop the Israeli atrocities.
Behind closed doors, ministers and envoys, meanwhile, engaged in intensive sessions aimed at drafting collective measures to pressure the regime -- steps expected to be unveiled by ...
