Macy’s to close 150 of its stores….

Macy’s plans to close 150 department stores and prioritize its luxury brands as it seeks to reinvent itself amid flagging sales.

The company plans to have a smaller footprint of 350 locations as it trims the “unproductive” stores, it announced Tuesday. It also expects to expand its luxury store footprint by 20 percent with 30 new Bluemercury stores and 15 stores under the Bloomingdale’s umbrella, including Bloomingdale’s outlets and smaller Bloomies locations.