Closing any store is never easy, but as part of our Bold New Chapter strategy, we are closing underproductive Macy's stores to allow us to focus our resources and prioritize investments in our go-forward stores, where customers are already responding positively to better product offerings and elevated service, Spring said.
So far, Spring's plan has been a failure. In the most recent quarter, revenue declined 2.4% to $4.7 billion. Earnings shrank from $0.15 to $0.10 per share.
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