Macy's to close 100 stores

RNN - - Macy's announced Thursday it is closing about 100 big-box stores out of its portfolio of 728 stores.

"We operate in a fast-changing world, and our company is moving forward decisively to build further on Macy's heritage as a preferred shopping destination for fashion, quality, value and convenience," said Terry J. Lundgren, Macy's, Inc., chairman and chief executive officer, in a statement.

"This involves doing things differently and making tough decisions as we position ourselves to serve customers who have high expectations of their favorite stores, online sites and apps."

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