These 10 Firms Were Last Week’s Worst Performers

8. Macy’s Inc. (NYSE:M)

Retail giant Macy’s Inc. (NYSE:M) suffered an 11.6-percent decline in its share prices to finish Friday’s trading at $13.99 versus the $15.84 close the week prior following news that it was closing 150 underperforming stores by 2026 and keeping only 350 stores in its portfolio.

For this year, around 66 stores are expected to shut down albeit the locations have not been disclosed.

Macy’s CEO Tony Spring said in a recent statement that closing stores is never easy, but the locations chosen were underproductive for its so-called Bold New Chapter strategy, which includes a shift to chasing wealthier shoppers with its higher-end brands including Bloomingdale’s and Bluemercury.

At its current valuation, Macy’s (NYSE:M) was already 2.4 percent shy of touching its 52-week low of $13.66.