Macy's three-year strategy includes shuttering about 150 Macy's locations while expanding its Bloomingdale's and Bluemercury store chains.

The news comes at a time when the retailer is being led by a new CEO and dealing with a potential takeover, according to a New York Times report.

The strategy is aimed at driving profitability and would leave about 350 Macy's stores operating.

In the early part of the pandemic the retailer announced it was closing 125 stores as part of a major restructuring.

Tony Spring was named CEO in early February of this year.

In August 2023 Macy's announced plans to launch small-store format locations in Las Vegas, Boston, San Diego and Indiana.

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