Macy's

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Macy's: Worker Hid $151M in Expenses to Cover Up Error

Department store chain confirms findings that led to delay in releasing Q3 earnings

(Newser) - Macy's finally released its Q3 earnings on Wednesday, more than two weeks after it said it had to postpone the report due to preliminary findings about a rogue worker who'd concealed millions of dollars in expenses. The department store giant now confirms that said employee, who worked with...

Macy's to Close 150 Stores as It Pivots to Luxury

Announcement comes weeks after department store chain said it would cut workforce by 3.5%

(Newser) - Macy's will close 150 stores over the next three years, 50 of them by the end of 2024, the department store said Tuesday after posting a fourth-quarter loss and declining sales, per the AP . At the same time, the company signaled a pivot to luxury. It said it would...

Macy's Says Consumers Are Having Financial Problems

There's been a steep rise in failures to make credit card payments

(Newser) - In what could be a warning sign for the wider US economy, Macy's says it's dealing with a steep rise in the number of customers who are failing to make credit card payments. Macy's CFO/COO Adrian Mitchell told Wall Street analysts Tuesday that the company was surprised...

Macy's Sues to Keep Amazon Off Giant NYC Billboard

Retailer wants to block competitor from taking over space next to flagship store

(Newser) - Macy's has filed a lawsuit against the company that owns the giant billboard next to its flagship Manhattan store, fighting to prevent Amazon from taking over the advertising space that carried Macy's name for almost 60 years. In the lawsuit, filed last week in state Supreme Court in...

Walmart: Here's Our New Black Friday Plan

For one thing, its deals will be spread over 3 weekends

(Newser) - Walmart says it will spread out its traditional one-day Black Friday deals over three weekends in November in an effort to reduce crowds in its stores during a pandemic, the AP reports. The nation's largest retailer said Wednesday that more of its doorbuster deals will be reserved for online,...

COVID Changing Big Retailers' Holiday Plans

Target joins Walmart in closing for Thanksgiving

(Newser) - The coronavirus is already causing big retailers to modify their holiday shopping season. On Monday, Target said it would close its stores on Thanksgiving for the first time since 2011, reports USA Today . The move comes after Walmart announced that it, too, would close on Thanksgiving, the first time that'...

Macy's to Reopen Dozens of Stores, With Changes

Temperature checks, masks for workers will now be part of the work environment

(Newser) - Dozens of Macy's stores, closed since March 18, are set to reopen Monday. The company plans to have 68 of its 775 department stores reopened by the start of next week, with limited hours of 11am to 7pm. These are in states that have loosened restrictions. A quarter of...

Retail Giants to Cut Off Pay for Majority of Workers

Macy's, Kohl's, Gap to furlough employees now that stores are shut

(Newser) - Tens of thousands of retail workers who had to quit going to work when their stores were temporarily closed will now lose their paychecks. Macy's, Kohl's and Gap all said Monday that they're furloughing the vast majority of employees, the AP reports, as they scale back drastically...

Macy's Closing 125 Stores
Macy's Closing
125 Stores
Feb 4, 2020 4:56 PM CST

Macy's Closing 125 Stores

And shedding 2K corporate jobs

(Newser) - Macy's says 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 AP reports. The store closures represent about one fifth of Macy's current total. The stores,...

Come 2021, You Won't Find This in Macy's Anymore

You'll have to get your fur items elsewhere, save a few permitted exceptions

(Newser) - If you're accustomed to browsing for mink stoles, fur coats, and other fur-trimmed apparel at Macy's or Bloomingdale's, you'll soon have to find a new retailer to fill those needs. CBS News and the New York Times report on a Monday press release from Macy's...

Walmart: Always Low Prices... Unless Tariffs Increase

Higher tariffs = higher prices, Walmart warns

(Newser) - Walmart warned on Thursday that higher tariffs on imports from China will mean higher prices, the AP reports. The comments came after the nation's largest retailer reported its best sale performance at its established US namesake stores for the fiscal first quarter in nine years. It marked 19 straight...

Cougar Goes to Macy's, Shows Interest in Planter

Juvenile male relocated Monday in Santa Rosa, Calif.

(Newser) - One thing Macy's doesn't have: an appropriate habitat for a cougar. A juvenile mountain lion spotted early Monday in a planter outside a Macy's store in downtown Santa Rosa, Calif., was ultimately tranquilized, tagged, and moved to territory north of the city. Wildlife officials said it was...

For First Time, You'll Need Reservation to Visit Santa

Macy's rolls out new rule in name of efficiency

(Newser) - Santa Claus may be coming to town, but you'll need a reservation to see him. At Macy's flagship store on 34th Street in New York City, a chance to sit on Saint Nick's lap is by appointment only this year, for the first time ever, per the...

One Company Has Already Laid Off 10K in 2017

Macy's isn't alone, though, in racking up such job losses

(Newser) - The good news: The number of layoffs in the US has improved since last year: By the end of July in 2017 there were 255,000 in total, while by the same time in 2016 there were 360,000. The bad news: Per a 24/7 Wall St. analysis, there are...

Macy's Announces Thousands of Layoffs After Bad Holiday

The department store is closing 68 locations, cutting 10,000 jobs

(Newser) - These weren't happy holidays for Macy's. CNN reports the department store announced plans Wednesday to close 68 stores and get rid of more than 10,000 jobs. November and December sales at comparable Macy's locations declined 2.1% between 2015 and 2016, according to the Wall Street ...

Macy's, JC Penney Sued Over Bargains That Aren't Bargains

'Customers have the right to be told the truth about the prices they're paying'

(Newser) - Los Angeles prosecutors on Thursday sued four national retailers, accusing them of duping shoppers into believing they got bigger discounts than they actually did, the AP reports. The separate lawsuits alleging deceptive advertising were filed against JC Penney, Sears, Kohl's, and Macy's, according to the Los Angeles city...

Macy's Must Stop Detaining Alleged Shoplifters, Forcing Confessions

The store is accused of locking shoppers up for hours, charging them to be released

(Newser) - A judge in New York ruled this week that Macy's has to stop detaining shoplifting suspects for hours on end, getting them to sign confessions without due process, and forcing them to pay money in order to be released, the New York Daily News reports. In his ruling, the...

Reeling From Dismal Holidays, Macy's Slashes 4.8K Jobs

It's been a rough road for Macy's as online shopping takes over

(Newser) - Macy's is slashing jobs, a harbinger of hard times for retailers after a holiday season that saw a noticeable shift to online shopping and away from physical stores. The nation's largest department-store chain, which also operates Bloomingdale's, said late Wednesday it's cutting up to 4,800...

5 Websites Where We Spent the Most on Black Friday

Amazon takes the cake with a 35.7% share of spending

(Newser) - Black Friday sales were up 7% this year over 2014 while Thanksgiving Day sales jumped 16%, according to Slice Intelligence 's analysis of online sales data. Not only that, but the weeks leading up to the biggest shopping day of the year saw a 14% boost with many sales...

Macy's Continues the Trump Dump

Department store is pulling all Trump-branded merchandise from its shelves

(Newser) - Donald Trump's terrible , horrible , no good , very bad couple of weeks just got worse: Macy's is pulling all Trump-branded merch from its stores due to derogatory remarks the mogul made about Latinos during his June 16 presidential campaign kickoff, reports CNN . Per a Macy's statement this morning:...

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