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Macy’s
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Almost a year ago, Macy’s announced an ambitious turnaround plan to modernize itself that included shedding about a quarter of its big department stores.Now, the retailer has announced the first tranche of those closings in a move that is gaining urgency because of the impact of the...
Just as Macy’s beagn making inroads toward improving its financial performance during the COVID crisis, the struggling department store company’s executives say the resurgence in case numbers is posing a renewed threat to its business.The retailer reported on Thursday that comparable sales...
Macy’s said Santa Claus won’t be greeting kids at its flagship New York store this year due to the coronavirus, interrupting a holiday tradition started nearly 160 years ago.More than a quarter of a million people come to see Santa at Macy’s in New York each year, the company said, making...
Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism, subscribe today.The fallout of the sales collapse at Macy’s brought on by the COVID-19 pandemic continued on Thursday as the department store chain announced thousands more job...
Macy’s trades big July 4 fireworks show for short, multiday displays as concession to pandemic
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Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism, subscribe today.Macy’s annual Fourth of July fireworks show is a go after all this year, but the extravaganza will look very different because of the COVID-19 pandemic.Rather...
Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism, subscribe today.J.C. Penney has begun clearance sales at 136 of the stores it is planning to close permanently as part of its bankruptcy protection process, liquidations that...
Macy’s Inc. surged as much as 17% in early trading after announcing it has reopened 450 stores in some capacity and expects to exit the second quarter with a “clean inventory position.” This shows the U.S. department store chain may be bouncing back faster than expected from the Covid-19...
The endless headlines lately about this, that, or the other retailer heading toward Chapter 11 bankruptcy protection are enough to give any shopaholic agita.This week, after J.Crew and Neiman Marcus each filed for Chapter 11 bankruptcy protection, social media was flooded with lamentations...
Macy’s stores to start slowly re-opening next week but CEO warns retailer will emerge ‘a smaller company’
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Finally some relief from the coronavirus crisis is coming for Macy’s.The department store chain said on Thursday that it will begin reopening stores on Monday, starting with 68 locations of its 500 namesake stores, gradually ramping up from there. The company expects all stores will be open...
The true retail apocalypse is upon us now, courtesy of the coronavirus outbreak.Big shifts in shopping habits in the past decade have wounded retailers in a disruption often likened to an Armageddon. But that upheaval unfolded in slow motion compared with the nuclear bomb that has fallen on...
The coronavirus nightmare is only getting worse for Macy’s.The department store chain said on Monday that it was keeping its stores closed until further notice and would furlough most of its 130,000 employees starting this week as the pandemic’s outbreak continues to batter its...
It may be a while before many of America’s stores open again as coronavirus crisis worsens
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Subscribe to Outbreak, a daily newsletter roundup of stories on the coronavirus pandemic and its impact on global business. It’s free to get it in your inbox.When large national retailers started announcing temporary store closings early last week because of the coronavirus spreading, many...