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The Macy’s store in Kailua will begin liquidation sales Monday as it prepares to close in mid-March.
The Cincinnati-based department store chain said Wednesday it is cutting up to 4,800 jobs after disappointing holiday sales. Warm weather and lower spending by international tourists hurt sales.
The company listed Wednesday which 40 stores it would close. It had announced it was closing stores in September; employees at the company’s Kailua store were told in August that their location would be closed this year. The 59,000-square-foot Kailua store at 573 Kailua Road has 57 employees, according to the Macy’s website.
Macy’s said Wednesday that it now expects its profit for its fiscal fourth quarter and full year, which run through January, to fall short of its previous estimate.
It forecasts fourth-quarter earnings per share at $2.18 to $2.23, compared with the average analyst estimate of $2.56 per share.
The company’s shares rose more than 3 percent to $37.20 on Wednesday, after being down more than 2 percent to $36.15 in regular trading. Macy’s shares have been down more than 40 percent in the past 12 months.
On The Move
>> PARENTS Inc. has promoted Cheryl Jackson to Hawaii island program director from VCM clinical supervisor. She replaces James “Jim” Reehten, who will be relocating to the mainland.
Ship Ahoy!
Today’s ship arrivals and departures:
Honolulu Harbor |
Agent |
Vessel |
From |
Eta |
Etd |
Berth |
Destination |
PHT |
Horizon Pacific |
— |
— |
7:30 a.m. |
51A |
Oakland, Calif. |
TNC |
Iver Experience |
Off Port Anchorage |
8:30 a.m. |
— |
51A |
— |
WNLI |
Cap Corrientes |
— |
— |
6:15 p.m. |
52A |
Oakland, Calif. |
MNC |
Matsonia |
— |
— |
4:30 p.m. |
32 |
Oakland, Calif. |
Kalaeloa Barbers Point Harbor |
Agent |
Vessel |
From |
Eta |
Etd |
Berth |
Destination |
WNLI |
Katerina |
Indonesia |
1 p.m. |
— |
BP-6 |
— |