Macy's says it'll close 125 stores over the next three years, nearly one-fifth of the department store chain's total locations
Macy's will look to exit struggling malls. It will also cut roughly 2,000 jobs, or 10% of its corporate staff, and close its offices in Cincinnati and San Francisco. Macy's expects to save $1.5 billion by the end of 2022 from the cost-cutting measures.It is unclear how many hourly workers will lose their jobs from the store closures.
America has turned its back on big department stores"We will focus our resources on the healthy parts of our business, directly address the unhealthy parts of the business and explore new revenue streams," CEO Jeff Gennette said in a statement.The 125 stores Macy's will close currently account for around $1.4 billion of the retailer's annual sales.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
WSJ News Exclusive | Macy’s to Close 125 Department Stores, Exit Weakest MallsThe department-store operator is cutting back sharply in an admission that a fifth of its locations cannot thrive as shoppers buy more online and make fewer trips to malls.
Baca lebih lajut »
Macy's is closing 125 stores, cutting thousands of corporate jobs, and shuttering offices - Business InsiderThe store closings represent about one fifth of the retailer's locations. The company will also cut 2,000 corporate jobs.
Baca lebih lajut »
Macy's is closing 125 stores, cutting thousands of corporate jobs, and shuttering offices - Business InsiderThe store closings represent about one fifth of the retailer's locations. The company will also cut 2,000 corporate jobs.
Baca lebih lajut »
WSJ News Exclusive | Macy’s to Close 125 Department Stores, Exit Weakest MallsThe department-store operator is cutting back sharply in an admission that a fifth of its locations cannot thrive as shoppers buy more online and make fewer trips to malls.
Baca lebih lajut »
Aretha Franklin's Niece Quitting as Executor of Queen of Soul's EstateA niece of Aretha Franklin said she's quitting as representative of the late singer's estate, citing a rift in the family since handwritten wills were discovered last year.
Baca lebih lajut »
IKEA's Coventry store to close in first UK shut downIKEA's British arm is to shut a loss-making store in Coventry, central Engl...
Baca lebih lajut »