Macy's hasn't closed 150 stores yet. But Target, Kohl's CEOs already smell opportunity
Publishing timestamp: 2024-04-01 13:16:04
Summary
Macy's is closing 150 stores, potentially benefiting competitors like T.J. Maxx, Kohl's, and others. The closures could put up to $2 billion in annual sales up for grabs for other retailers. Macy's is focusing on driving higher sales at other locations and investing in its better-performing stores. Other retailers like Target and off-price chains may also benefit from the closures.
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Keywords: business news, kohls corp drn, breaking news: business, retail industry, macy's inc, ross stores inc, abercrombie & fitch co, business, target corp, burlington stores inc, tjx companies inc, nordstrom inc,
Source: https://www.cnbc.com/2024/04/01/macys-store-closures-target-kohls-tjx-could-benefit.html