Summary:
Macy’s is actively reshaping its retail strategy by selling off its department stores in Georgia, notably including the recent sale of its Gwinnett Place Mall location for $16.5 million to Gwinnett County, which plans to transform the area. This move aligns with Macy’s broader initiative to exit traditional mall spaces and focus on smaller-format stores, aiming to adapt to changing consumer behaviors and enhance profitability. The company is leasing back the sold location, allowing it to maintain a presence while reducing its real estate footprint.