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150 Macy’s Stores to Close in 3 Years

However, Macy’s Inc. plans to open more Bloomingdale’s and Bluemercury stores.

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PHOTOGRAPHY: Ian Dewar Photography / Shutterstock.com
PHOTOGRAPHY: Ian Dewar Photography / Shutterstock.com

Macy’s (New York) will close 150 “underperforming” department stores in the next three years, according to a company plan revealed Tuesday.

Macy’s parent company, Macy’s Inc., reported a decline of 1.7 percent year over year in Q4. The Macy’s banner fell 4.7 percent. Macy’s recently declined a $5.8 billion take-over bid, which would have made the company private.

Also outlined in the company plan, Macy’s Inc. will open 15 Bloomingdale’s stores, 30 Bluemercury stores and 30 small-format stores.

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You Wouldn’t Cut Your Own Hair. Why Run Your Own Retirement Sale?

After being in business for over a quarter of a century, Wayne Reid, owner of Wayne Jewelers in Wayne, Pennsylvania, decided it was time for a little “me time.” He says, “I’ve reached a point in my life where it’s time to slow down, enjoy a lot of things outside of the jewelry industry. It just seemed to be the right time.” He chose Wilkerson to handle his retirement sale because of their reputation and results. With financial goals exceeded, Reid says he made the right choice selecting Wilkerson to handle the sale. “They made every effort to push our jewelry to the forefront of the showcases,” he says, lauding Wilkerson for their finesse and expertise. Would he recommend them to other jewelers who want to make room for new merchandise, expand their business or like him, decide to call it a day? Absolutely he says, equating trying to do this kind of sale with cutting your own hair. “The results are going to happen but not as well as if you have a professional like Wilkerson do the job for you.”

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