Macy’s on Thursday announced a series of changes--including the possibility of launching a Macy’s off-price business--that the retailer said is in response to the changing ways consumers are shopping.

Specifically, Macy’s M, -1.45% plans to restructure the merchandising and marketing functions at its Macy’s and Bloomingdale’s stores; adjust certain store operations, including cutting the number of associates at stores; and invest in growth opportunities, such as a possible Macy’s off-price business.