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Wednesday 25 June 2025
Last Updated : GMT 09:40:38
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Macy

Macy's to close stores, lay off 10,000 employees in 2017

Themuslimchronicle, themuslimchronicleMacy's to close stores, lay off 10,000 employees in 2017228999/84
Chicago - Xinhua
The U.S. department-store chains Macy's has announced its plan to close 68 stores and lay off more than 10,000 employees in 2017 after a disappointing holiday shopping season. Macy's sales at established stores fell 2.1 percent in November and December compared to the same period in 2015, Macy's said earlier this week. Macy's chief executive Terry Lundgren said the closuresRead more

US retail giants feel pain as online shopping hits

Themuslimchronicle, themuslimchronicleUS retail giants feel pain as online shopping hits180355/135
New York - AFP
Iconic American stores Macy's and Gap are facing tough questions about their future following dreary earnings announcements this week that highlighted the growing market share taken by online retailers. Conventional retailer profits are falling as fewer shoppers head to malls in favor of click-and-buy options offered by Amazon and a trove of emerging online fashion  vendors. The trend is allRead more

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