US retail chain to close 150 stores

Macy's, one of the major retail chains in the US, announced that it will close approximately 150 stores by 2026. In a statement made by the company, it was reported that approximately 150 inefficient stores will be closed by 2026 as part of the new strategy and resources will be focused on. In addition, the statement noted that the company will focus on the luxury market. On the other hand, Macy's announced its balance sheet for the last quarter of last year. Accordingly, the company's net sales decreased by 1.7 percent compared to the same period of the previous year, falling to $8.1 billion. Macy's net sales also decreased by 5.5 percent annually in 2023, falling to $23.1 billion. In addition, the company suffered a loss of $71 million in the last quarter of last year.