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Macy's preliminary results showed net sales fell 2.4% to $4.74 billion compared to $4.77 billion based on estimates compiled by LSEG, a sign that steep promotions failed to draw customers who have ...
US department store Macy's has said a rogue staffer concealed more than $130m (£103m) in company costs over roughly three years, causing it to delay the release of its latest accounts.
Number 1, Macy's is obviously a very big company, and when you look at their income statement, you can start to put that into context. If we think about this money that was hidden.
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 is laying off about 3.5% of its workforce, or roughly 2,350 employees, and closing five stores as it continues to shrink its massive retail business for the online shopping era.
An early Macy's building, dating from 1894, at 56 West 14th Street, designated a NYC landmark in 2012. Macy's was founded by Rowland Hussey Macy, who between 1843 and 1855 opened four retail dry goods stores, including the original Macy's store in downtown Haverhill, Massachusetts, established in 1851 to serve the mill industry employees of the area.
On February 27, 2024, it was announced that Macy's would be closing this location as part of a plan to close 150 stores nationwide by the end of 2026. Macy's stated that the location would remain open until the property would be sold to a new owner. More than 400 employees will be impacted as part of the closure. [13]
Macy’s said that its first 50 traditional locations that have been revamped achieved comparable sales gains of 3.3% in the quarter. The figure excluded licensed and third-party businesses.