Posted on 01/08/2014 1:36:55 PM PST by dynachrome
Just out from Macy's, which first said the following: "The 2013 holiday season was successful for Macy’s and Bloomingdale’s as we offered fresh and distinctive merchandise, delivered great value to the customer and provided a robust omnichannel shopping experience... Even in a questionable macroeconomic environment with challenging weather in multiple states, the positive response from our customers during the holiday season is yet another vote of confidence that our well-established strategies continue to work for us." What well-established strategies one may ask? Why the following of course, which was also just disclosed in a separate news release "outlining cost reduction initiatives to support continued profitable sales growth": "Approximately 2,500 employees are expected to be laid off and are eligible for severance as a result of these organizational changes. Other associates are being reassigned with new duties or transferred; some open positions will not be filled."
And just in case the message was missed, "The company is announcing today that it will close the following five Macy’s stores in early spring 2014:
•Fiesta Mall, Mesa, AZ (159,000 square feet; opened in 1979; 98 associates); •Metcalf South Shopping Center, Overland Park, KS (216,000 square feet; opened in 1967; 88 associates); •Jamestown Mall, Florissant, MO (200,000 square feet; opened in 1994; 88 associates); •Medley Centre, Irondequoit, NY (129,000 square feet; opened in 1990; 96 associates); •Fashion Place Mall, Murray, UT (26,000 square feet; opened in 1988; 42 associates). Luckily, JCP and Sears are both hiring.
What can one say but a truly vibrant economy, and a consumer that has never been stronger.
As for M stock, it's up 6% after hours.
Sinking deeper and deeper into the recovery.
Thanks.
This is just fabulous, using Clown Prince nobama’s comments yesterday that “more unemployment checks equals more jobs”. Anyone who questions his logic is just a racist (and racist dope-rah feels you should die anyway).
I don’t generally shop there, but I found a Christmas gift for my mom there I was unable to find anyplace else. Two of the nicest, most polite young kids waited on me there.
Hope they land on their feet.
“Recovery summer on the way!”
Yep, to bad they could not hold on until Summer time.
I mean the two mommyies catalog and ellen degenerate as spokesfreak worked out well for JCP, why not?
I disagree with you. I shop Macy’s when they are having a good sale—and always find something I like and that fits me. Some of my favorite outfits came from Macy’s.
Shop Nordstrom’s Rack or Sak’s Off Fifth or Neiman Marcus Last Call instead. You’ll get much higher end stuff at a lower price usually.
To each his own. I never step foot in Macys. Not when I can buy from Nordstrom’s Rack. I also shop Sak’s Off Fitch and Neiman Marcus Last Call. Higher end stuff at really reasonable prices. And if you shop the clearances you can get high end stuff at a really good price.
Macy’s is middle of the road. I wear higher end stuff than they carry usually for a lot less.
I just read where Walmart employees have cheap premiums, heavily subsidized by the company with better benefits than obamacare. Their premiums age going up 5 to 9 times the current amount.
People with employer provided insurance are about to get some hits.
I recently came to the conclusion that a “crash” is years away. Not so sure now.
“Yeah, and tell that Santa I won’t forget him either.”
Recovery summer on the way!
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That will be Recovery Summer 5.0. The previous four didn’t work out so well.
I have seen Penneys on lists of brands to be ended this year...wonder if there is someone going to buy out their real estate division? They never lease, but own their properties.
That store was always filled with mincing homo guys and perfume women with too much makeup and acted SUUUPER SNOBBY but had no money.
Look for more of this in retail. The Christmas shopping season was dismal, but since this is obama’s eonomy as opposed to the Bush economy no one is reporting it. When George Bush was President an increase of 4% in same store sales was reported as the end of the world, in the obama economy a 1or 2% increase doesn’t even merit mention.
It’s the Obama Economic Miracle...
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The only thing miraculous about it is that we haven’t yet fallen into a full blown national depression.
Jamestown Mall is a dying mall that has been in foreclosure for a few years. Dillard’s has been gone from that location for sometime. I was surprised that there was still a Macy’s there.
50% off the reduced price is a “good sale” for me! Designer items are special at that price. Michael Kors, Ralph Lauren, and Coach yesterday...did I need them...NO but liked them!
Not yet in Macy’s but Lord and Taylor was great yesterday.
or you’ll see ObamaMacy cards whereby the beneficiary gets free clothes at Macy’s
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