Macy’s to Close 100 Stores as Discounting and E-Rivals Hit Legacy Retailers

August 12, 2016 12:09 AM

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Macy’s to Close 100 Stores as Discounting and E-Rivals Hit Legacy Retailers

People continue to spend. In the spring, household spending rose at an annualized rate of 4.2 percent, driving overall economic growth. But more and more, they now want bargains and convenience — in stores and online — and know how to find them.

“Given the convenience of e-commerce, the consumer needs a really good reason to go to a store and park their cars,” said Edward Yruma, a managing director at KeyBanc Capital Markets. “It has to be exciting and have something new, because if not, why wouldn’t I sit on my couch in my pajamas and shop...

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