Macy's to slash 2,350 jobs and ax FIVE stores as it becomes latest victim of America's 'retail apocalypse'
11 months, 3 weeks ago

Macy's to slash 2,350 jobs and ax FIVE stores as it becomes latest victim of America's 'retail apocalypse'

Daily Mail  

Chain is planning to add more automation to its supply chain and reduce management Macy's will lay off around 2,350 workers and close five stores as it becomes the latest victim of America's retail apocalypse. It comes as Macy's President Tony Spring prepares to succeed Jeff Gennette as CEO next month. Macy's will lay off around 2,350 workers and close five stores as it becomes the latest victim of America's retail apocalypse It comes as Macy's President Tony Spring prepares to succeed Jeff Gennette, pictured, as CEO next month. Back in October, the brand announced plans to focus more heavily on its 'small format' stores outside of city centers Bed Bath & Beyond filed for bankruptcy this year, spelling the end of its 896 stores Macy's joins a growing list of retailers which have shut up their bricks and mortar stores after struggling to compete with online giants like Amazon.

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History of this topic

Why Macy's is shutting down dozens of stores across US
3 weeks, 5 days ago

Why Macy's is shutting down dozens of stores across US

India Today  

Popular US departmental store chain Macy’s has announced that it is planning to shut down as many as 65 stores by the end of January 2025, which is 15 more than previously planned, according to reports. Macy’s CFO Adrian Mitchell said that the closure of stores will be done in a strategic manner, with greater focus on locations that are …

Macy’s Warns Workers They May Be Fired If They Don’t Return to the Office
8 months, 1 week ago

Macy’s Warns Workers They May Be Fired If They Don’t Return to the Office

Live Mint  

-- Macy’s Inc. has issued a new mandate to its corporate employees: Get to the office two days a week or face disciplinary actions. On Monday, the mall-based retailer informed its hybrid employees via email that the new policy will go into effect May 13, according to people familiar with the matter. Macy’s move comes amid a broader push by …

Macy’s closes 150 stores – see if yours is on the list
10 months, 1 week ago

Macy’s closes 150 stores – see if yours is on the list

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Macy’s has announced plans …

Macy's to close 150 stores but expand luxury Bloomingdale's, Bluemercury outlets
10 months, 1 week ago

Macy's to close 150 stores but expand luxury Bloomingdale's, Bluemercury outlets

Hindustan Times  

Macy's will close 150 unproductive namesake stores over the next three years including 50 by year-end, the department store operator said Tuesday after posting a fourth-quarter loss and declining sales. The Macy's stores set to close account for less than 10% of its sales, the company said. “We are making the necessary moves to reinvigorate relationships with our customers through …

Macy's to close 150 stores in major turnaround effort - but will open more high-end Bloomingdale's and Bluemercury locations
10 months, 1 week ago

Macy's to close 150 stores in major turnaround effort - but will open more high-end Bloomingdale's and Bluemercury locations

Daily Mail  

Macy's will close 150 underperforming stores over the next three years, the department store said Tuesday - more than a third of locations. Macy's will close 150 stores over the next three years, the department store said Tuesday Sales at the company fell to $8.12 billion in the fourth quarter, down nearly 2 percent from a year ago. Retail analyst …

San Francisco’s iconic Union Square Macy’s will close
10 months, 1 week ago

San Francisco’s iconic Union Square Macy’s will close

LA Times  

Macy’s massive store in downtown San Francisco’s Union Square, overlooking the holiday ice rink, will close as part of the company’s plan to shut 150 underperforming locations, about 30% of the Macy’s stores. As Macy’s announced plans to close 30% of its locations, including its store in San Francisco’s Union Square, Walmart said it will shut the doors to its …

Macy’s Simi Valley to close along with four other stores; 3.5% of workforce to be cut
11 months, 3 weeks ago

Macy’s Simi Valley to close along with four other stores; 3.5% of workforce to be cut

LA Times  

Macy’s is planning to close five stores, including the Simi Valley Town Center location. Macy’s is closing five stores, including the location at Simi Valley Town Center, and laying off 3.5% of the department store chain’s workforce, according to a statement from a company spokesperson and media reports. The decision, the person said, would allow the chain “to become a …

Macy’s is opening more small stores in the West and Northeast in a bid to lure new customers
1 year, 4 months ago

Macy’s is opening more small stores in the West and Northeast in a bid to lure new customers

Associated Press  

NEW YORK — Macy’s is expanding its small-store format into the West and Northeast, looking to offer more convenient shopping, increase customer visits and add new shoppers. The new stores range in size from 30,000 to 50,000 square feet, roughly one-fifth the size of its regular department stores Macy’s said the four new stores will bear the iconic brand’s nameplate, …

Macy’s slashes expectations for the year after a pullback by shoppers in the spring
1 year, 7 months ago

Macy’s slashes expectations for the year after a pullback by shoppers in the spring

Associated Press  

NEW YORK — Macy’s slashed its outlook for the entire year as sales weakened in the first quarter during an increasingly challenging economic environment, including stubbornly high inflation. Macy’s results wrap up the retail industry’s fiscal first-quarter earnings season that showed how still high inflation, particularly in food, is forcing shoppers to further cut back on discretionary items like clothing …

Macy’s cuts corporate headcount by 3,900 as virus takes toll
4 years, 6 months ago

Macy’s cuts corporate headcount by 3,900 as virus takes toll

Associated Press  

NEW YORK — Macy’s said Thursday it’s laying off 3,900 people corporate staffers, roughly 3% of its overall workforce, as the pandemic takes a financial toll on the iconic department store chain’s sales and profits. In February, before the virus became a pandemic, Macy’s said it would cut 2,000 jobs in its corporate office and close 125 stores. Macy’s CEO …

Macy’s says reopened stores luring back customers
4 years, 7 months ago

Macy’s says reopened stores luring back customers

Associated Press  

NEW YORK — Macy’s said Tuesday that roughly several hundred stores that have reopened are performing better than anticipated as it disclosed an update on its fiscal first-quarter results. Excluding one-time items, it said it’s looking to report a loss of $2.03 per share when it reports final first-quarter results on July 1. In a statement, Macy’s CEO Jeff Gennette …

Pandemic highlights big box stores’ ability to pivot
4 years, 7 months ago

Pandemic highlights big box stores’ ability to pivot

Associated Press  

NEW YORK — Late last year, Best Buy began testing curbside pickup at select stores as a way to respond to customer needs. The pandemic accelerated the company’s plans and what was supposed to take months instead took just 48 hours, with Best Buy rolling out curbside pickup at nearly all of its 1,000 locations in late March as customers …

Macy’s expects it lost around $1 billion in a matter of weeks. Department stores are in trouble
4 years, 7 months ago

Macy’s expects it lost around $1 billion in a matter of weeks. Department stores are in trouble

CNN  

New York CNN Business — Macy’s released its preliminary earnings for the first quarter, and it ain’t pretty. Kohl’s said earlier this week that sales fell 43% last quarter, while sales at L Brands, the parent company of Victoria’s Secret and Bath & Body Works, dropped 37%. Macy’s, Kohl’s and L Brands’ results reflect how reliant traditional apparel chains are …

Macy’s to close 125 stores, shed 2,000 corporate jobs
4 years, 11 months ago

Macy’s to close 125 stores, shed 2,000 corporate jobs

Associated Press  

NEW YORK — Macy’s said Tuesday it is closing 125 of its least productive stores and cutting 2,000 corporate jobs as the struggling department store tries to reinvent itself in the age of online shopping. The corporate jobs will be shed as Macy’s closes its offices in Cincinnati and San Francisco, leaving New York as its sole corporate headquarters. Macy’s …

Macy’s will close 125 stores in the next three years
4 years, 11 months ago

Macy’s will close 125 stores in the next three years

CNN  

New York CNN Business — Macy’s said Tuesday that it will close 125 stores over the next three years, nearly one fifth of its total locations, in another blow to American department stores. Macy’s planned closings follow years of struggles at US department stores, which have been bruised by the rise of Amazon and the expansion of low-price clothing chains …

Target and TJMaxx are killing department stores
5 years, 1 month ago

Target and TJMaxx are killing department stores

CNN  

New York CNN Business — Department stores like Macy’s have a big problem, and it’s not Amazon: Discount retailers Target and TJMaxx continue to take their customers. Macy’s posted a sales decline of 3.9% at stores open for at least a year, the company said Thursday. Kohl’s sales at stores open for at least a year last quarter ticked up …

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