Macy's Consolidating?

Right, so remember how we unabashedly passed along a rumor about a major department store potentially folding after we heard about Macy's shocking third-quarter loss this year? ($44 million, compared to earnings of $33 million last year.) Well, now WWD reports even more paralyzing news: The New York institution may be considering merging its four divisions into two. According to the article, Macy's could potentially fold Macy's Central (Atlanta) and Macy's Florida (Miami) into its two bi-coastal locations—Macy's East in New York, and Macy's West in San Francisco. Needless to say, WWD points out that the decision to consolidate would affect hundreds of employees, let alone hordes of shoppers. When asked about the rumor, spokesman Jim Sluzewski told WWD: "We can’t comment on rumors, but we are fully focused on running the business for holiday.” Especially since Miley Cyrus is headlining the Macy's Thanksgiving Day Parade ...

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