Macy’s Names 68 Stores It Will Sh…

Macy’s yesterday said it was closing 68 stores of its 730 stores by the spring – wiping out about 3,900 jobs – and that it would lay off about 6,200 additional workers nationwide in a move it characterizes as a “need for greater efficiency and productivity.” The closures are part of the plan to shutter up to 100 underperforming stores that it had announced last August.

Macy’s, Kohl’s plunge after weak holiday sales

Macy’s Inc. said it will slash more than 10,000 jobs and detailed plans to close dozens of stores after another holiday season of weak sales, providing more evidence that department stores have lost their once-central place in American retailing. Like its rival, Kohl’s Corp., which also warned Wednesday of lackluster holiday results, Macy’s hasn’t been able to solve consumers’ shift to online shopping.