Wow stock at $18.82. If you are reading this I hope your resume is updated. This is a sign for many more cutbacks and store closings. They still talk about MAGIC scores when there is noone on the floor. The person who created MAGIC left a few years ago because he saw the demise. I am GLAD I got out and hope you do the same. SMH
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Supposed to go down to $15 so don't be surprised
Stock dropped again to $17.53. How much lower will it go?
Just beard up to 40 stores are closing next year. Macys is putting all their efforts into the com. Business. Get out and run
This is a trend for Macy's in the last year - they report BEFORE the season even begins that they expect lower than necessary earnings so that the cuts that invariably begin in January of the new year (when the fiscal year begins anew and the annual budget rolls out). This esoteric announcement is the best warning of things to come that any employee will get. So make as much as you can this season - no one is safe come January until the cards are finally laid out on the table.
(What kills me is that management and the district staff who are constantly in store during the season know full well already what and who are on the chopping block, and what changes will upend the store come January/February. Yet they smile and say hello and tell you what a great job you are doing.)
Start learning to speak Macy's and all will be revealed.
Wait until earnings report on Thursday that will something to watch,stock could go down further on that news.
Wait until earnings report on Thursday that will something to watch,stock could go down further on that news.
Report: Macy's one of worst-paying American companies
By Andy Brownfield – Reporter, Cincinnati Business Courier
Oct 31, 2017, 2:00pm EDT
A study by a financial news outlet ranks Cincinnati-based Macy's Inc. as one of the worst-paying large companies in America.
Online publication 24/7 Wall St. ranked Macy's (NYSE: M) 12th on its list of 25 "Companies paying Americans the least" report for 2017.
The publication based its methodology on the 2012 report by the National Employment Law Project, "Big business, corporate profits and the minimum wage."
It identified three sectors with the highest percentage of workers paid at or below the minimum wage:
....Leisure and hospitality
....Retail trade
....Education and health services.
From there, it identified 31 industries where the media wage was $13 an hour or less. It then identified the 147 lowest-paying American companies using the Capital IQ Screening tool.
The publication looked at worldwide totals, full-time and part-time employee counts, annual profits from the last three years and CEO pay. It also reviewed salary information submitted by employees to Glassdoor.
The publication found that Macy's sales associates, the most commonly reviewed job at the company, earn on average $9.40 an hour compared to the national median of $17.81.
"It is unlikely Macy’s employees will see significantly higher wages in the foreseeable future," the report's authors wrote. "The company’s once seemingly untouchable market share is now losing ground to e-commerce and companies like Amazon. The company’s revenue has fallen in each of the last two years, and the company closed a net of 39 Macy’s department stores in fiscal 2015."
Macy's did not respond to a request for comment.
Macy's has 148,300 employees nationwide, including 3,800 in Cincinnati, split between two offices, a Mason call center and seven retail locations.
https://www.bizjournals.com/cincinnati/news/2017/10/31/report-macys-one-of-worst-paying-american.html
That was a very old article from 2015 but I did see an updated one recently on Cincinnati business Courier
Look who made the list for The 10 Companies That Pay Americans The Least
Global workforce: 166,900
CEO compensation: $16.5 million
Revenue: $28.1 billion
No. of U.S. locations: 823
Industry: Department StoresLike many department stores, Macy’s is one of the nation’s lowest-paying companies. More generally, the retail trade sector employs 13.3% of all U.S. workers paid at or below the minimum wage. At Macy’s, the average hourly wage for a sales associate is $9.33, about half the average for sales associates nationwide. Macy’s closed hundreds of stores last year, cutting around 2,500 jobs. The company reported revenue of $28.1 billion in the company’s latest fiscal year. CEO Terry Lundgren made $16.5 million, the eighth highest total CEO compensation among the over 100 companies reviewed. Read more at 24/7 Wall St.
https://www.huffingtonpost.com/entry/the-10-companies-that-pay-americans-the-least_us_55e9aa0de4b093be51bb378c