2/3rds into the 1st quarter Macys cut their sales plan for the 1st quarter by $ 170 million dollars. If you have any common sense this is a disaster. They spent the money without the income. Only means more job cuts and financial disaster.
Take cover!!!
We just got our new staffing targets too. Wow. Didn't think we could possibly run with less. Boy was I wrong. I'm a 60+million store. I have staffing zones that have an opener and a closer with no overlap. Today 5 minutes after open they lines 5+
Staff reduction HR call today. Reduced sales plan reduces the need for floor coverage. Why can't we just reduce store hours permanently. Do fulfillment while the store is closed too.
It is very possible furniture is going lease, too. Why in the hell would you want to control all that stock and tie up all that money? We can farm out the financial risk and delivery to a lease owner and laugh all the way to the bank.
Hell, Kohl's has furniture online. And people buy...even after being in our stores. Ugh.
I think they meant jewelry not furniture going leased
I am so blessed I have gotten out. I have taken my management talents somewhere else, and it's non retail. I did not realize there is such a whole great big world outside of Macys, one that pays better too!
Where did you hear furniture is going leased ?
Open sell in shoes! That'll take care of thousands of associates.
Open sell in cosmetics! That'll do it, too.
Furniture goes lease...ya don't have to stock or deliver it anymore.
This is going to be a bloodbath at the end of Q1.