Macy’s is closing 68 stores, cutting 10,000 jobs – Jan. 4, 2017 CNN-Money

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.

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