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On February 2, 2009, Macy's announced the elimination of 7,000 jobs, or 4% of its workforce, and slashed its dividend as it looked to lower expenses as part of a major restructuring. Cincinnati-based Macy's Inc. stated that the workforce reduction included positions in offices, stores, and other locations, and the cuts include some unfilled jobs.
Shares of Macy’s soared more than 17% early Monday on a Wall Street Journal report that the iconic 165-year old retailer closely associated with the holiday season might itself be bought.
Arkhouse Management, a real estate investment firm, and Brigade Capital Management, a global asset manager, submitted a bid to buy Macy’s for $21 a share, valuing Macy’s at $5.8 billion, the ...
It is the largest department store company by retail sales in the United States as of 2023. Macy's operates with 508 stores in the United States. [5] Its flagship store is located at Herald Square in the New York City borough of Manhattan. The company had 94,000 employees and an annual revenue of $25.3 billion as of January 2023. [6]
Its founder, Marshall Field, was a pioneering retail magnate. The company's flagship Marshall Field and Company Building on State Street in the Chicago Loop is a National Landmark for its importance in the history of retail. It was officially branded Macy's on State Street in 2006, when it became one of Macy's flagship stores.
Macy’s said that its first 50 traditional locations that have been revamped achieved comparable sales gains of 3.3% in the quarter. The figure excluded licensed and third-party businesses.
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