Macy’s Likely to Cut 10,000 Jobs, Close Stores Amid Disappointing Holiday Sales

Macy’s shares tumbled more than 9 percent after the market’s close Wednesday after it posted disappointing holiday sales and released the locations of 68 of the 100 stores it plans to close as it looks to turn around its performance. Macy’s comparable sales fell 2.1 percent in November and December, which was at the low end of its previous guidance.