Via CNN:
New York (CNN Business)Macy’s is closing roughly more than two dozen stores as troubles mount for the storied retailer.
The company confirmed to CNN Business that it’s shuttering 28 Macy’s locations and one Bloomingdale’s location in the coming months. Closures affect locations in several states, including Florida, California and Georgia, according to lists compiled from various media reports.
Macy’s reported Wednesday that sales in November and December declined only 0.6%, alleviating fears from investors that it would be a dreadful holiday shopping period. The stock jumped 2% in early trading before retreating.
The company could use some optimism. In its most recent earnings report, Macy’s posted a sales decline of 3.9% at stores open for at least a year.