Macy's to close 150 stores by 2026, open new Bloomingdale's, Bluemercury locations

https://www.foxbusiness.com/markets...-2026-new-bloomingdales-bluemercury-locations

HYPERLINK has full article
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Macy's announced the firing of over 2,000 employees in January....

acy's plans to close roughly 150 of its locations over the next three years in a strategy shift that leans more heavily on its luxury Bloomingdale's and Bluemercury chains.............

In turn, the company will add roughly 45 Bloomingdale's and Bluemercury locations.

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150 closures and only 45 (projected) new openings

2,000 folks hit the bricks

More folks laid off, more vacant commercial real estate

and so it goes and so it goes

 

Thanks, Joe!

 

And yet the unemployment rate is still 3.7%.

Thanks Joe !

 

And 353,000 net jobs added in January alone. Thanks Joe!

 

Tell me you dont know what your debating without telling me....

They are moving to more to their LUXURY brands....so per the conservative "trickle down theory", thats not really working for the average joe....right ?

3.5% is "full employment"

 

Yeh, all this proves is the middle class is being wiped out and the poor and wealthy are further dividing.

Only one party supports trickle down and wants to cut regulations so the very wealthy can make even more money.

Republicans not only voted for this, they cheer it. It’s ironic that the people they are hurting them most are themselves and one of their core constituencies.

 

Make one wonder? Well maybe not a Joe fan!!

 

Amazon and Walmart have cornered the market on the cheaper brands.
The trend away from malls has increased demand for upscale store brands in the malls that are left which tend to be in the upper income

BTW ICYMI, the progressives and enviro's have been running the show for the last three years.

 

this all began with exec orders targeting fossil fuels. The snowball effect turned into an avalanche with no end in sight. The harm cuts across all party lines be they Democrat or Republican or Libertarian

 

Except it didn’t

Supply chain issues were popping up due to Covid, then SA cut oil production after a meeting with the prior administration to levels below what normal demand is — once demand leveled out the supply wasn’t there.

We are now producing more oil than any other nation and more than at any other time in the history of this nation and prices still remain high because of massive corporate profits.

In your example, Bloomingdale’s — their net profit is up at $1.2 Billion while overall revenues are down — they are accomplishing this by eliminating lower priced items. Corporations are seeing profit levels never seen before and the Republican strategy is to cut their taxes more and slash regulations.

 

Amazing what a little research turns up.

 

"Macy's to close 150 stores by 2026"

maybe they must be predicting a Trump win in 2024

 

What is wrong with profit? How do you think expansions are financed? From what do you think taxes are paid?". "Where does money for retirement funds come from?", "How will you stay in existence if you are not making a profit?"

 

exactly

 

is $1.2 Billion profit not "profit"?

 

I don’t have an issue with profit, I have an issue when it gets to a point it is damaging the economy as a whole.

 

Not to mention the mindless knee-jerk reaction by the righties to blame the nearest Democrat.

 

Can you be more specific?

 

I will waste my time typing this

feel free to track the price of fuel rior to the exec orders, and then the next 12 months post-exec orders

then, feel free to track all prices as everything needs fossil fuel.

But alas, you will not as you will type the same Democrat talking point. The exec orders fired a shot into the price of futures and from there, it triggered what we now see as results. Instead, head out to the polls and vote Democrat.

 

Look around.

Cost of goods have skyrocketed causing a global inflationary period while wages have not kept pace. The divide between the rich and poor increases yearly while the middle class is being wiped out.

The top 5 wealthiest people in the US wealth doubled since 2020 to $869 While pretty much everyone else’s decreased and for the first time the wealth of the 1% at 26% passed the wealth of the middle class.

The 148 top corporations made $1.8 trillion in profits, 52 percent up on 3-year average while seeing their tax rates decrease over the same period.

This isn’t sustainable and only grows each year with a trend seen since the 80’s when trickle down (horse and sparrow) was pushed ahead full steam that shows no signs of slowing down.

Honestly — at what point does the right think this is a problem?

 

The red line is when SA and Russia cut oil production
The Blue line is when Biden was inaugurated

In order for these costs to be attributed to Biden, he would have had to be issuing EO’s prior to voters going to the polls in November 2020.

 

About 20 years ago a chain I used to shop at all the time (it's on the tip of my fingers but I can't remember the name) got bought and turned into Macy's about the third trip I quit going there; just wasn't the same service or quality. So, I'm not surprised that they're closing them.

 

If one were to go to a shopping mall these days, one would notice a few less sized shopping crowd. That trend has been going on for at least 10 yrs. The traditional brick and mortar stores, e.g., chains are all reducing their footprints. There are apps to measure for clothes sizes and then just order online.

This is another redundant flame bait partisan thread.

 

Thanks internet.

 

The overhead involved in operating a retail location in a mall is high and cause the company to be price uncompetitive. It is a matter of dollars and sense, not politics.