Macy's Can't Get Out Of Sales Slump, Even After The Holidays
Macy's says its downward sales trend isn't expected to let up as it announces thousands of layoffs.By Ben Lawson | January 7, 2016
The holiday shopping season wasn't enough to give Macy's the boost it needed to prevent a round of layoffs.
In November and December, sales at Macy's stores fell 5.2 percent compared to the same time period the previous year. Now, the company has announced it will eliminate thousands of positions, both in stores and among its management.