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NEW YORK, Feb 27, 2024 (AFP) – The iconic but struggling US department store Macy’s announced plans on Tuesday to close almost a third of its eponymous locations by 2026 while building up its upscale Bloomingdale’s and Bluemercury brands. In a new strategy dubbed a “Bold New Chapter” aimed at breathing new life into the 166-year-old retailer, the company said it would shut 150 “underproductive” Macy’s locations. It will close 50 of them by the […]
WASHINGTON, Dec 11, 2023 (AFP) – A group of investors have offered to buy US department store giant Macy’s for $5.8 billion, the Wall Street Journal reported Monday. Arkhouse Management, a firm specializing in real estate investments, and asset manager Brigade Capital Management submitted a proposal to acquire the company’s remaining stock for $21 per share, the financial daily reported, citing “people familiar with the matter.” Macy’s shares were trading for $17.39 per share as […]
