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This decision follows The Body Shop International Ltd.'s recent filing for administration, a legal procedure that enables companies to reorganize or cease operations without immediately settling their debts. Read more.
Macy's will close 150 stores over the next three years and 50 by the end of 2024, the department store said Tuesday after posting a fourth quarter loss and declining sales. While adjusted net income and revenue topped Wall Street expectations, Macy's offered a muted outlook for the year. The department store chain faces a proxy fight from Arkhouse Management which nominated a slate of nine director for election to Macy's board last week.
Macy's will close 150 stores over the next three years and 50 by the end of 2024, the department store said Tuesday after posting a fourth quarter loss and declining sales. While adjusted net income and revenue topped Wall Street expectations, Macy's offered a muted outlook for the year. The department store chain faces a proxy fight from Arkhouse Management which nominated a slate of nine director for election to Macy's board last week.