Macy's just revealed a massive plan to turn around its business — here are the 5 main parts
, Macy's CEO Jeff Gennette said the aim of the strategy is to strengthen each of Macy's brands, including its namesake company, Bloomingdale's, and Bluemercury.
In addition to the store closures and job cuts, significant changes include the debut of Market by Macy's, an experimental concept store that will open in Texas this week, as well as the expansion of off-price stores like Macy's Backstage and Bloomingdale's The Outlet. A Macy's employee helps shoppers over the holidays.Macy's will launch the next phase of its rewards program, Macy's Star Rewards Loyalty, later this month.
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