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Macy’s is closing another 100 stores

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Posted at 8:31 AM, Aug 11, 2016
and last updated 2016-08-11 08:31:55-04

Another 100 struggling Macy’s stores are disappearing.

Macy’s announced plans on Thursday to close about 15% of its department stores, the latest effort to adapt to shifting consumer preferences for online shopping.

Macy’s did not disclose which stores it will close, but said most of them will close early in 2017.

The move comes as Macy’s revealed its second-quarter sales fell less than feared. Macy’s stock soared 10% in premarket trading.