A Major Retailer Will Close Five Mall Anchor Stores And Cut 3.5% Of Jobs
Macy’s unveiled a strategic restructuring strategy as a major step in reviving its image and adjusting to the constantly shifting retail scene. The venerable department store chain plans to close five of its full-line locations and reduce staff by 3.5%. This occurs as incoming CEO Jeff Gennette’s successor, Tony Spring, a new leader with new ideas, gets ready to assume over.
A corporate spokeswoman acknowledged the employment reduction, citing the necessity to become a more nimble and efficient organization in order to meet changing market and customer needs. This action is in line with Macy’s resolve to maintain its leadership in the cutthroat retail sector.
It is noteworthy that activist investors hoping to profit from Macy’s real estate holdings had made a bid that the retailer had been considering. Tony Spring will soon take over as CEO, thus this reorganization may indicate that Macy’s will once again prioritize its core competencies and long-term growth plans.
The outgoing CEO, Jeff Gennette, had earlier stated that the major shop reductions that had been going on since 2016—which included the closure of over 170 locations—had come to a stop with the announcement of the closures a year ago. Analysts for the sector have speculated that there may be more closures to come.
Increased presence in smaller, off-mall sites is one of Macy’s proactive efforts. In order to accommodate changing consumer tastes, executives have stressed the significance of striking the correct balance between in-store and off-mall establishments. Five full-line stores will be closed in the upcoming year as part of a broader initiative to maximize Macy’s shop portfolio.
The first publication to report on these changes was The Wall Street Journal, which referenced an internal memo to staff members that disclosed intentions to remove some 2,350 corporate roles in the upcoming month. Initiatives like supply chain automation, outsourcing, and quicker decision-making procedures targeted at boosting competitiveness and efficiency are predicted to be the main drivers of these reductions.
Apart from shutting down its locations, Macy’s is also planning to sell and move two of its furniture stores. This calculated move demonstrates Macy’s dedication to maximizing its asset base and reallocating funds where they will have the biggest impact.
The Macy’s anchor stores in the impacted malls—which are situated in Virginia, Florida, Hawaii, and California—will close. Although there may be some short-term interruptions, this is in keeping with Macy’s goal of building a network of stores that is more dynamic and effective.
Macy’s is setting out on this revolutionary journey with a conservative mindset, intent on upholding its heritage while adjusting to the reality of the new retail environment. Tony Spring’s new team is well-positioned to lead the business into a more promising future and maintain Macy’s position as a mainstay of American retail.
It will be interesting to watch how these developments pan out and how Macy’s redefines its position in the cutthroat retail market as this retail behemoth keeps changing. Watch this space for further information about Macy’s makeover and its attempts to remain competitive in the retail industry.
9 Celebs Who Ditched Cosmetic Procedures and Decided to Return to a Natural Look
Many of us find flaws in our looks or want to stop the aging process. In such cases, we might turn to plastic surgery. However, these procedures don’t always guarantee that the results will be to our liking. Some celebrities have faced these problems too, and they’ve admitted to regretting going under the knife, preferring to not repeat the same mistake in the future.
1. Simon Cowell
“There was a stage where I might have gone a bit too far. I saw a picture of me from ’before’ the other day and didn’t recognize it as me, first of all,” the TV personality admitted last year. Since then, Simon Cowell vowed to never use fillers again and is trying to regain his natural looks. Cowell also confessed that he had overdone it with Botox when he tried the procedure, stating that he currently prefers more simple facials.
2. Cameron Diaz
Cameron Diaz is another Hollywood star who had Botox regrets. “It changed my face in such a weird way that I was like, ’No, I don’t want to be like that,’ — I’d rather see my face aging than a face that doesn’t belong to me at all,” the actress said. Since then, Diaz has fully embraced the natural aging process, especially her laugh lines, which, according to her, only prove that she has “smiled her whole life.”
3. Anna Faris
Unsatisfied with her thin lips, Anna Faris turned to fillers to make them look plumper. And although she never went overboard, she came to later regret the procedures, as she couldn’t go back to her original lip shape. On the other hand, the actress doesn’t regret the breast augmentation that she also had around the same time.
4. Jamie Lee Curtis
After constantly being told she had puffy eyes, Jamie Lee Curtis decided to go under the knife and change their look. She’s also tried Botox, but was unsatisfied with the results in both cases. Nowadays, Curtis is a huge advocate of aging gracefully and has famously said, “Why do you want to look 17 when you’re 70? I want to look 70 when I’m 70.”
5. Heidi Montag
Years ago, people were shocked to find out that Heidi Montag underwent 10 procedures in a single day. Because of so many surgeries in a very short period of time, her health also suffered. “I wish I had waited and not made a decision so young because I have long-term health complications,” she admitted years later, adding, “Plastic surgery isn’t something that should be glorified. Take it seriously.”
6. Reid Ewing
Before rising to fame as part of the cast of the successful sitcom, Modern Family, Reid Ewing felt dissatisfied with his looks and thought that changing them would help his career as well. In total, Ewing had 8 cosmetic procedures and later came to regret all of them. “I wish I could go back and undo all the surgeries. Now I can see that I was fine to begin with and didn’t need the surgeries after all.”
7. Jane Fonda
Jane Fonda opened up about getting a facelift, but also added that she’s not proud of it. The actress also decided to never undergo plastic surgery again, scared that she would end up looking “distorted.” Since then, Fonda has preferred to take care of herself in a simpler and more natural manner. “I don’t spend a lot of money on face creams or anything like that, but I stay moisturized, I sleep, I move, I stay out of the sun, and I have good friends who make me laugh,” she said.
8. Bella Hadid
Last year, the supermodel finally cleared up plastic surgery rumors when she admitted to having had a nose job when she was only 14 years old. Hadid confessed that when she was a teenager, she felt very insecure about her looks, and being the younger sister of Gigi Hadid didn’t help that. However, she now thinks she could have learned to love the nose she was born with and regrets changing it.
9. Melissa Gilbert
The Little House on the Prairie star had a breast augmentation and a nose job, as well as some Botox and fillers. But in more recent years, Gilbert decided to remove her breast implants and embrace her natural looks instead. “I had my breast implants removed, and I’m no longer doing fillers or Botox because I’m a 53-year-old woman, and I’m trying to embrace this process of aging,” she said back in 2018.
Have you ever considered plastic surgery? What do you think about these procedures?
Preview photo credit PopularImages / Depositphotos.com, camerondiaz / Instagram
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