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Macy’s to close 150 stores, or about 30% of its locations

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Macy’s on Tuesday said it plans to close roughly 150 underperforming stores over the next three years, the struggling retailer’s latest effort to energize its business as it seeks to fend off a proposed takeover by activist investors. 

The department store chain said it plans to focus on expanding its luxury brands, Bloomingdale’s and Bluemercury. Macy’s will shutter 50 stores over the next year. Overall, the restructuring plan will leave Macy’s with 350 outlets.

The announcement of the store closures comes after Macy’s last month rejected a $5.8 takeover offer from investing firm Arkhouse Management and its partner Brigade Capital Management. 

Like other brick-and-mortar retailers, Macy’s is battling an industrywide sales slump brought on by rising competition from online retailers. The company on Tuesday said its fourth-quarter sales slipped 1.7% to $8.1 billion.

—This is a developing story and will be updated.



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Gazan chefs cook up hope and humanity for online audience

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Gazan chefs cook up hope and humanity for online audience – CBS News


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For many in war-torn Gaza, a hot meal has become a luxury. Two bright spots in the midst of displacement and food shortages are 10-year-old Chef Renad, who’s gained a following on Instagram, and Hamada Shaqoura, who prepares simple dishes online, often relying on humanitarian aid and crude cooking arrangements. They talk with correspondent Holly Williams about the hardships of life in Gaza, and of using cooking as a symbol of hope and humanity.

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Serving up home-cooked dog food

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Serving up home-cooked dog food – CBS News


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Commercially-produced pet food is a $50 billion a year industry. But some advocate for healthier meals for your beloved pets. Correspondent Nancy Giles visits Just Food for Dogs, in Hollywood, Calif, which sells delicious canine fare that is also USDA-approved for human consumption; and with pet nutritionist Christine Filardi, author of “Home Cooking For Your Dog.” Bone Appétit!

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What makes a martini a martini?

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What makes a martini a martini? – CBS News


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There are very few American inventions more American than the martini – a classic cocktail of gin and vermouth, garnished with lemon. But today, a martini’s ingredients may be up for debate, with variations and proportions skewed to personal taste. “Sunday Morning” contributor Kelefa Sanneh looks at the history of the martini, with a twist.

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