Macy's Will Update Shareholders on its Turnaround Plan at Meeting

Macy's (M) will update shareholders on its turnaround plan at the company's annual meeting today. Macy's has been struggling lately and announced this week, plans to focus on its 150 best performing stores, adding more high end inventory and staffing. Macy's has tried to be a middle of the road retailer, but that hasn't been such a great place to be. Shoppers have gravitated to deeply discounted items at outlet stores or focusing on high end stores such as Neiman Marcus or Macy's sister chain Bloomingdales. Macy's has also been hurt by older stores, many of which are in malls which are struggling.