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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.
In 2005, May was acquired by Federated Department Stores for $11 billion (~$16.5 billion in 2023) in stock, with all former May divisions being folded into Federated's various Macy's branches. [14] [15] In 2006, over 400 former May stores, with their wide variety of long-standing brand names, were consolidated and renamed as Macy's.
Macy's (originally R. H. Macy & Co.) is an American department store chain founded in 1858 by Rowland Hussey Macy.It has been a sister brand to the Bloomingdale's department store chain since being acquired by holding company Federated Department Stores in 1994, which renamed itself Macy's, Inc. in 2007.
Macy's still plans to close a total of about 150 underproductive stores, while investing in its 350 current Macy’s locations, through the company's 2026 fiscal year, which ends Jan. 30, 2027 ...
Macy's, Inc. Announces Executive Management Changes CINCINNATI--(BUSINESS WIRE)-- Macy's, Inc. (NYS: M) today announced a series of changes to its senior executive leadership team, effective ...
Macy's and LIDS Sports Group Partner to Open Licensed Team Sportswear Departments in Macy's Stores and Online CINCINNATI & INDIANAPOLIS--(BUSINESS WIRE)-- Macy's, Inc. (NYS: M) and LIDS Sports ...
The Becks sold the company to Macy's, Inc. for $210 million in 2015, while retaining their positions as CEO and COO. [7] [8] Macy's added Bluemercury stores, called "shop-in-shops", inside some of its own department stores; the first, three in California and one in Houston, were launched in 2016. [11]
Macy's plans to close 66 stores in 2025 and 150 locations in total by 2026. The department store chain will expand Bloomingdale’s and Bluemercury. Macy's Is Closing 66 Stores Soon — See If ...