Department store giant Macy’s said yesterday that it plans to close 100 stores, a dramatic step that is aimed at helping the chain get ahead of a potentially crippling problem: America, executives say, has too many stores for the online shopping era, the Washington Post reported today. Macy’s has been steadily pruning its portfolio, often moving to close several dozen underperforming stores right after the annual holiday rush. But in dropping a summertime announcement that it will close 15 percent of its locations, the chain appears to be moving more aggressively than many of its retail industry counterparts to adapt to a fast-changing shopping environment. The company said on Thursday that it saw a 2.6 percent drop in comparable sales in the most recent quarter, a weak performance that was nonetheless an improvement over the 6.1 percent year-over-year decline it recorded in the previous quarter. The retailer’s revenue was $5.87 billion, down 3.9 percent from the same period last year.
