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.
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