Macy's plans to shut around 125 stores.
The 125 units to be eliminated represent about 24% of Macy’s 525 total. It’s also axing about 2,000 corporate jobs, 10% of the total.
“Our goal is to reclaim and revitalize what a department store should be,” Macy’s CEO Jeff Gennette told The Journal. “Department stores are still vital if they are done right. There is viability to having many categories and brands under one roof.”
Jim Cramer weighed in on Macy's plan.
Watch the full video above for more.
Online real estate platform CrowdStreet delivers investors a new way to diversify their portfolios with real estate. Individual investors can use CrowdStreet’s leading online marketplace to connect with a wide array of commercial real estate opportunities and projects to make investing in real estate easy! Download the Real Estate Guide.