How America’s once great department stores became a dying breed

(CNN)– Macy’s is downsizing and refocusing in a major turnaround effort.

It will close 150 under performing stores over the next few years.

Meanwhile, it will open more small versions of its successful Bloomingdale’s and Bluemercury stores.

It’s all part of a turnaround effort the store is calling a “Bold New Chapter”.

It’s designed to fend off activist investors and boost the company’s stock price and sales.