"There has to be a rationalization and we're not waiting anymore," Macy's CEO says of the plan to close 100 stores.
Thanks to tactical changes, the retailing giant is growing revenues in a very competitive environment.
The retailer's "old-fashioned brands are not what millenials want," one analyst says as its same-store sales fall 6.1% in the first quarter.
Is Macy's making a comeback?
Employers reported 75,114 planned layoffs in January, up 218% on December and 42% on the year-ago period.
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The retailer's CFO says consumer spending gravitated away from apparel, home goods and other items that are core to its business.
Starboard Value LP says Macy's real estate is worth $21 billion, almost its entire market capitalization.
Limited wage growth, coupled with considerable pockets of unemployed workers, contributed to weak retail sales to start the third quarter.
The coming mandatory disclosure of plan fees could give participants a nasty shock.
