Macy's is being removed from the S&P 500 after seeing its market value plunge by 94 percent since its July 2015 peak.
Macy's Inc. will furlough the majority of its employees beginning this week as sales have evaporated while its stores remain closed due to the coronavirus.
The bills are now coming due for big companies and millions of laid-off workers. Decisions made in the next few days will shape how coronavirus impacts the economy.
The moves reflect widespread criticism of how government bailouts were invested during the 2008 financial crisis.
Macy's Inc. said it will temporarily close all of its stores by end of business Tuesday in response to the spread of the novel coronavirus.
Macy's reported fourth-quarter earnings and sales that outpaced estimates.
The space spans four floors with the option of adding a fifth.
S&P said the department-store chain has too many stores amid a shift in consumer preferences away from mall-based locations.
The retail giant announced this week the major restructuring that includes the elimination of 2,000 corporate jobs and the closure of 125 stores in the next three years.
Polaris aims to boost earnings to as much as $3 a share by 2022 while strengthening customer relationships and curating high-quality fashion.
CEO says closings are part of "strategy to stabilize profitability."
Macy's is reportedly opening a new boutique concept this week, the first of several across the country.
11-year-old Haley had no idea that Make-A-Wish was ready to grant her request.
Windy weather conditions had threatened to ground the balloons.
Macy's Day Parade is the New York Police Department's biggest security event of the year.
Macy's reported mixed results and slashed its guidance.
Macy's said it contacted federal law-enforcement officials about the breach and reported the relevant payment-card information to the issuers.
NEW YORK (AP) — Macy's Inc.
These are the best Fourth of July sales going on right now.