Macys Inc (M)

[eastunder]

Ernie - you are talking about the Polaris Strategy

It's detailed in this release. I listed the bullet points from the article, but the actual article is worth a FULL read, hence the link.

It's a good thing, not a bad thing. (IMHO)

Also - Macy's home page is packed full of information on their stores under their investors tab.

https://www.macysinc.com/investors

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Macy’s, Inc. Announces Three-Year Polaris Strategy to Stabilize Profitability and Position the Company for Growth

https://www.macysinc.com/investors/news-events/press-releases/detail/1608/macys-inc-announces-three-year-polaris-strategy-to

February 04, 2020

Provides preliminary 4Q and full-year 2019 sales results, narrows annual EPS guidance to upper end of range; provides 2020 guidance and three-year financial targets

Begins a reset of fixed cost base to stabilize and then grow profitability and cash flows; expects annual gross cost savings of $1.5 billion to be fully realized by year-end 2022, with $600 million gross cost savings achieved in 2020

Prepares to launch next phase of successful Macy’s Star Rewards loyalty program

Lays out plans to build four $1 billion power private brands
Optimizes store portfolio by continuing the Growth treatment of stores in best malls, closing approximately 125 stores in lower tier malls within three years, and exploring new off-mall formats

Establishes single corporate headquarters and relocates digital business to New York City, the heart of the fashion industry