Macy’s said Wednesday it’s shutting down 68 stores and cutting more than 10,000 jobs.The announcement was issued alongside an unfavorable earnings report, showing comparable store sales dipped 2.1% last quarter. The news caused its stock to plunge nearly 10% during after-hours trading Wednesday.
Source: Macy’s is closing 68 stores, cutting 10,000 jobs – Jan. 4, 2017
Macy’s has been a retail giant and an American institution for generations. A lot of retailers are facing similar decisions. Although there is not a a Macy’s where I live this still has a significant impact in how we buy goods and where does this model of store fit in a highly online world.
Like this:
Like Loading...
Related
Author: Tony Burgess
Hi there, my name is Tony Burgess from Chattanooga, Tennessee, USA. I am a believer, bleeding-heart, idealist and blogger. My life is about my wife Laura of 18 years. We have a dog named Cody. I have worked in customer service and relations. Currently I work for Blood Assurance a regional blood bank contacting donors to donate blood. I graduated from Middle Tennessee State University in 1994, Hiwassee College in 1992 and Red Bank High School in 1988. Spiritually I am a member of St. Peter’s Episcopal Church. My interests are blogging (duh), media, computers, cooking, sports, entertainment, culture and religion. Thank you for connecting with me. Grace, peace and love!
View all posts by Tony Burgess
Wow very sad. I am sorry to hear it.
LikeLike
Surely not the one in NYC! What would happen to the parade??
LikeLike
I’m thinking stores elsewhere in the country.
LikeLike
SO many poorly managed locations…
LikeLike
I went to Macy’s this evening to burn up my Christmas gift card. Ours isn’t closing!
LikeLike