Macy's plans to close 100 stores, boost online investment

Associated Press ^ | August 11, 2016

[Olog-hai]

Macy’s says it plans to close about 100 stores next year as the department store operator aims to become more nimble in a competitive market. That represents close to 14 percent of its store base. […]

The nation’s largest department store chain says that it earned $11 million, or 3¢ per share, in the quarter ended July 30. That compares with $217 million, or 64¢ per share, in the year-ago period. …

[BitWielder1]

"more nimble"? No, that's not why.

[winner3000]

I hope they enjoyed their 5 minutes of notoriety for pulling Trump merchandise!

[AU72]

The ‘Trump’ effect.

[EQAndyBuzz]

The “Trump Effect.”

Nice

[blueunicorn6]

Gosh this is great news.

Now they’ll be more “nimble”.

Just like K-Mart.

Nimble nimble nimble.

Maybe they can teach yoga.

[Piranha]

Trump, trump, trump, the boys are marching to other stores.

[ripnbang]

How’s that Trump boycott working out for you, Macy’s?

[Red Badger]

B-b-b-but the economy is doing great! Obozo told us so! And the BLS has the numbers to prove it!..............

[hawg-farmer - FR..October 1998]

Remember when Macys’ said it was temporary, they would come back during the Summer?

[Red Badger]

.........and Sears..............

[MacArthur]

Love it! The revenge of Trump. I will continue to shop at Lord & Taylor’s! LOL !

[Hojczyk]

Most of America is shopping at WalMart and the second hand stores..Goodwill and the Salvation Army…

The other one is second hand sports stores…

[P.O.E.]

Gimble could not be reached for comment

[E. Pluribus Unum]

[NEMDF]

Macy’s is definitely for the “middle class”. Well, the middle class has NO discretionary money any longer, will see 20-50% premium increases (again) on their health insurance this year, have seen state and local taxes increase, groceries are up, and Hillary promises to raise taxes on this group. Can’t wait for HRC to make some kind of statement about Trump has caused Macy’s to retract.

[Leaning Right]

I have no idea what Macy’s politics are at the corporate level. But every Macy’s I’ve ever been in has been clean and welcoming. And their employees have all been friendly and helpful.

So, yeah, if my local Macy’s closes, I’d be upset.

[KC_Conspirator]

The Obamaeconomy - shedding jobs and businesses while having the Labor Dept lie and fudge the numbers.

[VTenigma]

Why would they be closing stores? IBD just came out and said the economy is “poised” to take off. /supersarc

[4yearlurker]

The Saint Vincent dePauls store near me is always busy. We buy nice clean flannel shirts from the 1970s for 50 cents and t-shirts too. My wife finds shorts and tops with the tags still on for 50 cents to a dollar each. We also buy summer clothes for our granddaughters. My wife is handy with a sewing machine so she takes in and lets out and repairs.