Macy's Closing 125 Stores, Cutting 2,000 Jobs in Restructure

Macy's is undergoing significant restructuring, closing 125 stores and cutting 2000 corporate jobs. The company is implementing a new strategy called Polaris, following previous strategies like Northstar. Despite efforts to revitalize, Macy's faces challenges similar to JCPenney, struggling to attract both high-end and low-end consumers. Investments in store facelifts and new smaller format stores, 'market by Macy's', aim to boost sales, but the effectiveness of these strategies remains uncertain.

What is the primary goal of Macy's current restructuring efforts?

• To expand their geographical footprint

• To increase the number of stores

• To hire more corporate employees

• To reduce their geographical footprint and streamline operations

What is the name of Macy's latest strategy aimed at turning the company around?

• Northstar

• Aurora

• Polaris

• Starlight

Why is there skepticism about Macy's ability to grow through cost-cutting?

• Because they are not investing in technology

• Because previous strategies have not been successful

• Because they have too many stores

• Because they are focusing on high-end consumers

What is one of the new store formats Macy's is exploring?

• Mega malls

• Luxury boutiques

• Online-only stores

• Smaller format stores called 'Market by Macy's'

What positive outcome has Macy's observed from investing in store facelifts?

• Increased sales growth and profitability

• Higher operational costs

• Decreased customer traffic

• More store closures