Quantcast

Friday, August 22, 2014         

 Print   Email   Comment | View 3 Comments   Most Popular   Save   Post   Retweet

Macy's to close 5 stores but none in Hawaii

By Star-Advertiser & Associated Press

POSTED:
LAST UPDATED: 11:59 a.m. HST, Jan 08, 2014


Macy's announced plans today to lay off about 2,500 employees and close some underperforming mainland stores to cut costs.

No Hawaii stores are listed among the locations being shuttered.

The announcement comes on the heels of a strong holiday shopping season for the department store chain.  

Macy's said it will reassign or transfer some workers and add some positions, leaving its workforce level at about 175,000.  

The Cincinnati-based company plans to close five stores and open eight others, leaving it with 844 stores nationwide once the changes are complete. 

Macy's says the moves will save it $100 million a year and forecast a 2014 profit above Wall Street's forecasts. 

The news sent its shares up 5.5 percent in after-hours trading.






 Print   Email   Comment | View 3 Comments   Most Popular   Save   Post   Retweet

COMMENTS
(3)
You must be subscribed to participate in discussions


IN OTHER NEWS
Breaking News
Blogs
The Green Leaf
Solar vigil

Political Radar
1,782

Island Crafters
Ya Meet the Nicest Peeps

Small Talk
Clothing swap?

Political Radar
Proceeding

The Green Leaf
Expanding a monument

Wassup Wit Dat!
Huh? – Follow Up

Political Radar
Spirit of Daniel Inouye