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Is a Macy's Near You Closing? Beleaguered Department Store Is Closing 66 Locations This Year.
The department store chain Macy's (M.US) will close 66 stores in the USA.
Macy's (M.US) announced on Thursday that as part of the strategy announced last year, it will close 66 stores within the USA. Macy's announced in December of last year a plan to reduce 150 underperforming branches by 2026.
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USA holiday season e-commerce sales soared to a record-breaking $241.4 billion, with discounts, promotions, and AI shopping assistants being the main drivers.
According to Adobe, during the 2024 holiday shopping season, total e-commerce sales in the USA increased by 8.7% year-on-year to reach 241.4 billion USD, setting a new historical high. More than half of the total spending was concentrated on electronics, outfits, and Housewares, while groceries and Cosmetic became the fastest-growing categories. AI shopping assistants and significant discounts were the key factors driving holiday shoppers' Consumer behavior.
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