Things might not be looking as good for folks at Macy’s. The department store chain has decided to make its running even smaller because of a direct hit in the financial hard times. As a result, five more of its stores will be shut in the next couple of months. This move comes after the brand had already taken a strong business move by closing 9 stores in 2008 and 11 in 2009.
The effect can be felt by 307 full as well as part time employees. This is in addition to the 7,000 lay offs that were made last year. Now we hear that the affected stores in Boise, Idaho, Waterford, Michigan, St. Ann, Missouri, Missoula, Montana and Burlington, New Jersey will be having clearance sales starting this Sunday and continue for the next few months.
Once the closings have been done, Macy’s will function in 849 stores and even has grand plans of opening a Bloomingdale’s in Santa Monica as well as in Dubai. It is really a tricky deal trying to understand the strappings of business moves. Our heart goes out to the suddenly unemployed workers.
Via wsj
