Thread regarding Macy's Inc. layoffs

150 stores (less than one fourth) generates half the business volume!

“Let’s go by what Macy’s told us themselves in their most recent earnings calls,” said Egelanian, president of SiteWorks in Baltimore, Maryland. “They generate half of their volume from 150 of their stores. Their volume is just under $25 billion. If 150 of its stores generate $12.5 billion in sales, the other 500 also does $12.5 billion. If you do the math, it's not sustainable."

https://www.wcpo.com/news/local-news/i-team/pressure-to-shrink-will-macys-downsizing-mean-the-loss-of-its-cincinnati-headquarters

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Post ID: @OP+13aXgTns

8 replies (most recent on top)

AGREE THAT SENIORITY IS ALWAYS A FACTOR!!! HUH!!!

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Post ID: @5cqt+13aXgTns

Wrong....seniority is the biggest part of the process. Performance is added in when there's a question about how to select in certain businesses only.

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Post ID: @4hif+13aXgTns

Store had 20 cuts at SHV Pa announced Friday the 24th. Performance and seniority no longer equated in their business sense on individual cuts. Poor management!

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Post ID: @4tqg+13aXgTns

Macy's cannot shutter doors as quickly as they'd like, there are complex leasing arrangements and retail real estate (were owned) in malls is not particularly valuable. None of this is a surprise and is Macy's own fault for responding in glacial speed to the dynamics of retail which has been almost 2 decades in the making.

Innovate or die.

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Post ID: @3stx+13aXgTns

Well G150 doors are not making plan and are cutting jobs too...soooo.....

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Post ID: @1pkj+13aXgTns

Math doesn't add up. There are not 150 $83m+ stores

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Post ID: @1sam+13aXgTns

I am enjoying this existential challenge!!! Meena K is the Chief Uber architect who can save Macy's

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Post ID: @euk+13aXgTns

I knew this back in 2016. Told it to uppers and they brushed it off. The company is 13 billion in debt. Too much payroll to much inventory. But the best part is. I had the solution yet no one wanted to hear it. Now I’m waiting for my pink slip

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Post ID: @eli+13aXgTns

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