MACY’S TO CLOSE 100 STORES AS SALES CONTINUE TO DROP…RETAIL APOCALYPSE UNDER OBAMA’S GREAT RECESSION CONTINUES!

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( Business Insider ) Macy’s just announced that it will close approximately 100 stores.

It’s part of the company’s attempt to improve business, following six consecutive quarters of declining sales.

In the most recent quarter, comparable sales (on an owned and licensed basis) were down 2%.

Macy’s has been struggling in an economy that’s defined by experiences. But the brand has been trying to revive itself. In Ohio, the company has set up a prototype of a more upscale store.

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Macy’s just said it’s closing 100 stores and its shares are jumping

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