What are we delaying. I feel at every first of the month we hear rumors store closures and then nothing happens. We are constantly waiting for the other foot to drop. It's truly hurting store environment and morale. For god sakes do it already. Does anyone have a clue if we are closing more this year or waiting till next year???
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Approximately 2-3 years ago they shut down several stores in 3rd quarter, if my memory is correct. Northwest Plaza comes to mind,anyone know if I'm correct. It was in St Louis.
We are awaiting fall budgets and staffing guidelines wonder what is going to happen.....
August 10th 2nd quarter results come out
I totally agree. I would be very surprised if they announce any specific store closures. At some point they will announce how many stores will close in 2018. I can't see them doing as we get closer to 4th quarter.
There might announce some positions being cut, but most will be in 2018. I know people in OPS and HR Managers are just waiting. They know the writing is on the wall.
I really question if we will close anymore store this year. For fear our stock will drop further. I agree at the end of q2 an announcement will be made but it will only be about how many stores we will close at the start of 2018. Which my guess will be in the 150-200 range if we are smart. This company truly needs to cut the fat and slim itself down. If we do anything we may cut positions for the start of q3. But the positions they should be looking to cut are the useless positions like DM, Operators and HR. The district teams are not needed and don't effect stores at all. Stop stripping storeline and if the CEO can't see that then we have no chance.
I think I speak for many at the sales manager level when I say I think another large round of closing is going to take place. Granted my store has money being put back into it in the form of staffing but the brand image has dropped off so significantly in the eyes of most consumers. Only people that think so highly of Macy's is the over the top loyal customer which is why MyClient is the latest big coaching push. Staffing remains a joke, even with the black Friday sale my store has minimum coverage leading to lines all over the place. Associates and customers are not the only ones left shaking their head at the staffing at stores
who knows what the end of july will bring. we already know that AST is being cut, but what else?? based on your position, you can see how your store and the company is doing on Insite in RVP Scorecard or just Scorecard.
That's correct the next earnings call to investors is august 11th. Wait till the reporting is done.Then we'll have a clearer picture of what's next.
The second quarter ends at the end of July. We will all see what Jeff has to say then. He is the one driving the boat. He will do whatever it takes to keep the company afloat. If he has to sell some stores, he will do that. If he has to close stores, he will do that. If it turns out better than expected, he will stay on course. His job is to make the company solid again. He will do whatever he can to attain that goal. If he has to cut staffing further, he will do that. It's not personal, its business. Cold hard money. That's what we all work for.
That's my understanding as well - they are looking into this right now...
I am so anxious.
The debate on this topic rages on at the very top. Stay tuned.