Macy's to close 14 stores, focus on online biz

New York

US department store giant Macy's said it would shut 14 stores, cutting more than 1,300 jobs, in a restructuring to boost its focus on the boom in online shopping.

The affected stores, a small fraction of the company's roughly 790 stores across the country, will be closed within several months, Macy's said in a statement on Thursday after the markets closed.