11.08.2016 - Macy's will close 15% of stores
US retailer Macy's announced plans to close about 100 stores, representing about 15% of the total number. The reason for this step was the reduction of sales and shifting sales to the online segment. In the last quarter the company's profit fell to 11 million dollars against 217 million in the same period of the previous year. Revenues decreased by 3.9% to 5.87 billion. Our medium-term outlook remains negative, despite possible short-term upward momentum in the near future.