Macy's is closing 10 stores in the New York-New Jersey area, including its historic Fulton Street location, as part of an effort to increase profitability after years of slumping sales.
Tony Spring, CEO of Macy's, emphasized, 'Closing any store is never easy. 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.'
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