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On February 2, 2009, Macy's announced the elimination of 7,000 jobs, or 4% of its workforce, and slashed its dividend as it looked to lower expenses as part of a major restructuring. Cincinnati-based Macy's Inc. stated that the workforce reduction included positions in offices, stores, and other locations, and the cuts include some unfilled jobs.
Macy's (originally R. H. Macy & Co.) is an American department store chain founded in 1858 by Rowland Hussey Macy.It has been a sister brand to the Bloomingdale's department store chain since being acquired by holding company Federated Department Stores in 1994, which renamed itself Macy's, Inc. in 2007.
H & M Hennes & Mauritz AB, commonly known by its brand name H&M, is a Swedish multinational fashion retailer headquartered in Stockholm. Known for its fast fashion business model, H&M sells clothing, accessories, and homeware. The company has a significant global presence, operating thousands of stores across 75 geographical markets and ...
It offered a money back guarantee, although it only accepted cash into the 1950s. The store also produced its own made-to-measure clothing for both men and women, assembled in an on-site factory. [5] The store moved several times before arriving at its current Herald Square location in 1902. R.H. Macy's monument at Woodlawn Cemetery in the Bronx
The early to mid-2000s saw a rise in the consumption of fast fashion: affordable off-the-peg high street clothing based on the latest high fashion designs. With its low-cost appeal driven by trends straight off the runway, fast fashion was a significant factor in the fashion industry's growth.
Karl Otto Lagerfeld [1] was born in Hamburg on 10 September 1933 to Elisabeth (née Bahlmann) and Otto Lagerfeld.His father, coming from a family of wealthy wine-merchants, was a prosperous businessman and polyglot, speaking nine languages; [7] [8] his father owned an import company (Lagerfeld & Co.) specialising in evaporated milk, leading him to work with the American dairy company Carnation.
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