The US Recovery Is So Strong, Macy’s Just Fired 2500 And Announced The Closure Of Five Stores!

• The US Consumer Is So Strong, Macy’s Just Fired 2500 And Announced The Closure Of Five Stores! 
  by Tyler Durden, www.zerohedge.com
  Just out from Macy’s, which first said the following: “The 2013 holiday season was successful for Macy’s and Bloomingdale’s as we offered fresh and distinctive merchandise, delivered great value to the customer and provided a robust omnichannel shopping experience… Even in a questionable macroeconomic environment with challenging weather in multiple states, the positive response from our customers during the holiday season is yet another vote of confidence that our well-established strategies continue to work for us.” What well-established strategies one may ask? Why the following of course, which was also just disclosed in a separate news release “outlining cost reduction initiatives to support continued profitable sales growth”: “Approximately 2,500 employees are expected to be laid off and are eligible for severance as a result of these organizational changes. Other associates are being reassigned with new duties or transferred; some open positions will not be filled.”
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  And just in case the message was missed, “The company is announcing today that it will close the following five Macy’s stores in early spring 2014:
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  * Fiesta Mall, Mesa, AZ (159,000 square feet; opened in 1979; 98 associates);
  * Metcalf South Shopping Center, Overland Park, KS (216,000 square feet; opened in 1967; 88 associates);
  * Jamestown Mall, Florissant, MO (200,000 square feet; opened in 1994; 88 associates);
  * Medley Centre, Irondequoit, NY (129,000 square feet; opened in 1990; 96 associates);
  * Fashion Place Mall, Murray, UT (26,000 square feet; opened in 1988; 42 associates).
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  read more!

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