Macy’s is closing another 100 stores

macys-logo

http://money.cnn.com/2016/08/11/investing/macys-closes-100-stores/index.html

In a sign of how dramatically the retail shopping landscape is changing, Macy’s is closing 100 of its stores nationwide.

Macy’s announced the closures Thursday. They represent about 15% of all Macy’s department stores. The iconic retailer did not disclose the locations of stores, but said most of them will be shut down in early 2017.

The Macy’s move is the latest in a wave of store closures amid the rise and success of Amazon and other online shopping options.

For instance, Walmart announced plans in January to shut down 269 stores this year and just this week, inked a $3.3 billion deal to acquire Amazon rival Jet.com.

Sports Authority, once the nation’s largest sporting goods retailer, is shutting all 450 of its stores after filing for bankruptcy. Other traditional retailers such as Target, JC Penney,Kmart, Sears and Kohl’s have also pulled the plug on hundreds of stores in recent months.

It’s a grim picture for retail store workers — there have been around 44,000 retail layoffs announced so far this year alone, according to Challenger, Gray & Christmas data. Walmart’s closures alone impacted 16,000 workers.

———-

but it means nothing eh?..continue on..

if this is occurring with the big guys then what is happening closer to the coal face?

401

~ by seeker401 on August 16, 2016.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: