Quantcast

Friday, July 25, 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
By participating in online discussions you acknowledge that you have agreed to the TERMS OF SERVICE. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. Because only subscribers are allowed to comment, we have your personal information and are able to contact you. If your comments are inappropriate, you may receive a warning, and if you persist with such comments you may be banned from posting. To report comments that you believe do not follow our guidelines, email commentfeedback@staradvertiser.com.
Leave a comment

Please login to leave a comment.
Skyler wrote:
Just saw that on Twitter - glad to hear Hawaii's going to be spared... for now.
on January 8,2014 | 10:52AM
onlyaloha wrote:
why not buy local?
on January 8,2014 | 01:22PM
areed wrote:
Bring back Liberty House!!
on January 8,2014 | 01:13PM
IN OTHER NEWS
Breaking News