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Who the has Macy's gift cards?
NEW YORK (AP) -- Department-store operator Macy's Inc. said Thursday it will close 11 underperforming stores in nine states -- affecting 960 employees -- and lowered its forecast for the fourth quarter after one of the weakest holiday seasons in years.
Stores slated to close include locations in Los Angeles, West Palm Beach, Fla., Nashville, Tenn., and St. Louis, among others. Cincinnati-based Macy's Inc. says the closures will cost about $65 million, most of which will be booked in the 2008 fourth quarter.
Clearance sales at the stores begin next week.
"These closings are part of our normal-course process to prune underperforming locations each year in order to maintain a healthy portfolio of stores," said Macy's Chief Executive Terry J. Lundgren in a statement.
Employees at the stores that are closing may be considered for open positions at other Macy's stores, the company said.
Department-store operators have been among the harder-hit in the retail sector as consumers cut back amid the recession, hunting for bargains and trading down to discounters.
Macy's reported Thursday that its December sales at stores open at least a year, or same-store sales, fell 4 percent -- still not as bad as the 5.3 percent drop analysts surveyed by Thomson Reuters were expecting.
Total sales for the five-week period ended Jan. 3 fell 5 percent to $4.4 billion from $4.61 billion last year.
Same-store sales fell 7.5 percent during the combined November and December holiday period. Macy's said the holiday season ended with improving sales in the fourth and fifth weeks of December but that sales were sluggish before that.
The company said it marked items down sharply in the fourth quarter to gain sales and reduce its inventories, but that hurt its margins and led it to lower its profit forecast for the fourth quarter and full year.
Macy's now expects earnings of 90 cents to $1 per share in the fourth quarter, down from its previous guidance of $1.10 to $1.30 per share. Analysts expect earnings of $1.11 per share.
For the full year, the company now expects to earn $1.10 to $1.20 per share, down from its previous forecast of $1.30 to $1.50 per share. Analysts expect a profit of $1.35 per share.
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Who the has Macy's gift cards?
That what they get for buying out Marshall Field's in Chicago. I haven't spent a dime at Macy's since.
i got a damn macy's gift card from my mother for xmas as well as a $10 whataburger card that never was activated so that 's worthless. i went to macy's the other day to see what i might possibly be able to get there and let me tell ya there ain't there i want, not a damn thing, nothing, nada. that in' place sucks! it's not even 1/5 the store solo-serv was back in the day and solo-serv was smaller too.
The only reason I would go to macy's is if I had a ton of money and could buy the good clothes, like Michael Kors, INC, Ralph Lauren, etc. Otherwise it's no different then any other store. Oh, but I do like the housewares. Their Fiesta ware is cheaper then at Bed Bath & Beyond when they have their sales. Better buy up!
they should trash that ty parade
I'm glad I got a wal-mart gift card.
Yeah, my first thought was, "Oooo Ralph Lauren bedding on clearance ...."
I was thinking more along the line of clothes, I recently redid everything household related.
A while back, probably end of summer, I bought a $75 Michael Kors shirt for like $25 and some other things that ended up costing me a little over $100.
I reread the article though, and it says:
So unless we're anywhere near the ones closing we're SOL for any of the sale events.
I liked Foleys better...
I never really cared for Foley's or Macy's. I was born and raised a Dillard's girl!
Ash, how do you re-do "household" when you still live at your parents??? Is your mom a crummy decorator, & she gives you carte blanche with the family home? Or do you mean you re-did your bedroom from pink to sage?
No she changed from teddy bears to the Jonas Bros!Ash, how do you re-do "household" when you still live at your parents??? Is your mom a crummy decorator, & she gives you carte blanche with the family home? Or do you mean you re-did your bedroom from pink to sage?
Hey Ash, how do you display your pepper spray????
Last edited by marini martini; 01-09-2009 at 12:29 PM.
Red Apple sales RULE!!! I can buy Perry Ellis, Kenneth Cole, Liz Claiborne shirts, pants and shoes for up to 75% off sometimes.................and I look smoove afterwards.
Macy's isn't bad. Seeing as the company on the whole is still profitable, I'm not going to worry about the subsidized Domain location closing anytime soon.
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