Macy’s: Even Luxury Shoppers Are Making ‘Thoughtful’ Choices About Spending

The U.S. retail industry may be on the brink of a significant transformation as department store chains Nordstrom and Macy’s consider a shift toward private-equity or hedge-fund ownership. These potential moves could have extensive implications for the retail sector, reshaping the landscape of the industry,...

With economic pressures squeezing the lower and middle classes’ budgets, brands and retailers are setting their sights on the shoppers who still have cash to burn. Indeed, many brands that operate across luxury and mass-market categories are turning their focus to the higher end of...

Macy’s plans to close 150 of its stores as it focuses on its luxury brands. The department store chain made this announcement Tuesday (Feb. 27) as it released quarterly earnings, saying that the closures would affect about a third of its stores and play out over the next two...

As Macy’s closes locations by the hundreds, the retailer is turning to digital to keep customers engaged even as they lose their local, physical stores. The company shared in its fourth-quarter and full-year fiscal 2023 earnings results Tuesday (Feb. 27) that it intends to close...