Macy's said these are the five areas where it plans to invest in 2019

Macy's can't ignore the state of retail today. Shoppers are increasingly ringing up purchases online, and fewer are flocking to shopping malls on the weekends to browse for handbags and clothes. Here's where it will invest to grow its business.

Rack, selling heavily discounted apparel and home goods. Macy's opened 120 Backstage locations within existing Macy's shops last year. It plans to open 45 more this year and says sales at Macy's stores with Backstage shops inside are up 5 percent, on average.

Then, Macy's said it will work more closely with top vendors this year with the goal of getting hot items to market more quickly. It's faced with growing competition from an onslaught of digital-first brands that sell directly to consumers — like Warby Parker, Outdoor Voices and Allbirds — to keep its assortment of goods in stores and online fresh.

Fourth, the company said it will think"mobile first" and continue to update its app. Mobile is the retailer's fastest growing channel for sales today, Macy's said. It reached $1 billion in mobile sales last year. And lastly, Macy's said it will invest in the categories where it believes it can gain the most market share: dresses, fine jewelry, women's footwear and beauty. It could stand to take some market share as rivals Sears and

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