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Macy's holiday same-store sales rise 1 pct; to close stores, cut jobs
January 4, 2018 / 1:35 PM / 12 days ago

Macy's holiday same-store sales rise 1 pct; to close stores, cut jobs

Jan 4 (Reuters) - Department store operator Macy’s Inc said its comparable-store sales during the months of November and December rose 1 percent, leading to a growth in overall comparable sales for the holiday quarter.

The company also said it would close 11 stores, cut jobs and further streamline non-store functions to save about $300 million in costs in 2018.

The company’s shares were down 2.5 percent in premarket trading on Thursday. (Reporting by Siddharth Cavale in Bengaluru; Editing by Saumyadeb Chakrabarty)

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