While making the announcement, Macy’s revealed that each of these luxury brands managed to outperform in both the retail and online spheres. It seems the company wants to put more money into outlets reaping the greatest returns on investment.
By the time this fiscal year concludes, at least 50 current Macy’s locations will no longer exist.
Some employees feel blindsided by the news
One of several Macy’s stores on its way out is located at San Francisco Union Square. Some company workers spoke with the San Francisco Gate, sharing their reactions to this week’s announcement.
At least one employee said he’d worked at the Union Square location for over 20 years and felt taken aback by the news. On Tuesday, the employee revealed, company workers were informed about the change after being gathered together for a meeting.
The unnamed worker also told the San Francisco Gate that many of his colleagues didn’t take the news well, with some employees appearing close to tears.
