BUSINESS

Macy’s Set To Close A Large Number Of Its Stores

U.S. department store chain Macy’s is to close about 100 stores and increase investment in its online business after 18 months of sliding sales.

macys storeTotal sales fell 4% to $5.87 billion in the second quarter after falling 7.4% in the first three months of the year.

As in the U.K., department stores in the U.S. have been struggling with tough competition from online retailers and discount stores.

Macy’s currently operates 728 stores in the U.S.

 Carol Maye, Readers Bureau, Fellow

 Edited by Jesus Chan

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