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Efficient Shoppers, Efficient Retailer

You know you're in a different retail world when a decent holiday sales season still leads to cost-cutting at Macy's.

By Debra Hazel | Updated on January 14, 2014

You know you’re in a different retail world when a decent holiday sales season still leads to cost-cutting at Macy’s.

After posting a 3.6 percent comp-store sales increase in December, the company announced that it will close stores in Mesa, AZ; Overland Park, KS; Florissant, MO; Irondequoit, NY; and Murray, UT. But it’s opening five Macy’s and eight Bloomingdale’s stores (including replacing an older Bloomie’s with a new unit in Palo Alto, CA). It’s actually increasing its square footage, with 730,000 square feet closing and 1.25 million square feet opening. Some 2,500 jobs are being cut, but other positions are being added so that the total number of employees will remain about the same. But the reallocations are expect to save the company $100 million a year.

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