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Macy’s aims to streamline store portfolio and intensify cost-efficiency efforts

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Apparel Online India March, 1-15, 2017

READ MORE ON Fashion RetailerGrowth StrategiesHoliday SeasonMacy’s

Despite recent reports that the industry’s holiday season was shaping up to top previous estimates due to success driven by strong online sales and a burst of last-minute purchase, this didn’t help a lot of retailers who couldn’t tide through the storm. One such retailer is Macy’s whose shares tumbled more than 9 per cent after it posted disappointing holiday sales, releasing a list of 68 of the 100 stores that it plans to close. However, the retailer is putting strategies in place to revive from its losses and these strategies primarily concentrate on streamlining its store portfolio and intensifying cost efficiency efforts. The department store chain Macy’s comparable sales fell 2.1 per cent in November and December, which was at the…

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Source: Apparel Online India March, 1-15, 2017
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