Macy's Inc

Wayfair is cutting 13% of its global workforce as the digital home goods retailer continues its efforts to trim down its structure, cut out layers of management and reduce costs after going "overboard" with corporate hiring during the Covid pandemic, it announced Friday. The company plans to lay off around 1,650 employees, including 19% of its corporate team, with a focus on people in management and leadership positions, Wayfair said. The restructuring – the third Wayfair has implemented since summer 2022 – is expected to…

Macy's on Thursday said it will cut about 3.5% of its workforce and close five of its namesake mall locations as the legacy department store moves to trim costs and turn around slowing sales.The move will affect approximately 2,350 positions across its corporate office and stores, company spokesman Chris Grams said. "As we prepare to deploy a new strategy to meet the needs of an everchanging consumer and marketplace, we made the difficult decision to reduce our workforce by 3.5% to become a more streamlined company," the…

A UPS worker sorts packages in New York on Dec. 18, 2017.Adam Jeffery | CNBCOnline spending rose 4.9% year over year, setting a record for e-commerce during the holiday season, as shoppers pounced on discounts and leaned on buy now, pay later to cover more of their purchases, according to Adobe Analytics.Sales totaled $222.1 billion on retailers' websites and apps from Nov. 1 to Dec. 31, according to Adobe.Adobe's data covers more than 1 trillion visits to U.S. retail websites, 100 million unique items and 18 total…

A customer enters a Nike store along the Magnificent Mile shopping district on December 21, 2022 in Chicago, Illinois. Scott Olson | Getty ImagesNike on Thursday unveiled plans to cut costs by about $2 billion over the next three years as it warned about a "softer" revenue outlook for the second half of the year.The sneaker giant plans to simplify its product assortment, increase automation and its use of technology, streamline the overall organization and leverage its scale "to drive greater efficiency," the company said…

People wait in line outside Macy's before opening on "Black Friday" in New York City on November 24, 2023. The retail sector's efforts to entice holiday gift purchases builds to a crescendo this weekend with the annual "Black Friday" shopping day followed by the newer "Cyber Monday." (Photo by Yuki IWAMURA / AFP) (Photo by YUKI IWAMURA/AFP via Getty Images)Yuki Iwamura | Afp | Getty ImagesArkhouse Management and Brigade Capital Management have offered to buy Macy's for $5.8 billion, people familiar with the matter told…

Doug McMillon, chief executive officer of Walmart Inc., during a panel session on day two of the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, Jan. 18, 2023. Stefan Wermuth | Bloomberg | Getty ImagesHoliday shoppers are turning to Walmart for groceries and gifts, but CEO Doug McMillon said it's hard to predict how sales will look in the months after the peak shopping season.In an interview with Sara Eisen that aired Wednesday on CNBC's "Squawk on the Street," the leader of the world's largest retailer…

Shoppers arrive at an Ulta Beauty store in Las Vegas, Nevada, US, on Monday, May 22, 2023. Ulta Beauty Inc. is scheduled to release earnings figures on May 25.Bridget Bennett | Bloomberg | Getty ImagesShares of Ulta Beauty rose in after-hours trading on Thursday, as the company said its third-quarter sales rose while shoppers showed once again they're willing to spend on makeup, face masks and more even when the budget is tight.The specialty beauty retailer raised the bottom end of its range for full-year sales and…

Ordering gifts online, paying by credit card. Concept online shopping, buying Christmas and New Year's presents. Black credit card, computer and christmas presents on blue sofa with festive decorations at home. Christmas and black friday shopping.Anastasiia Krivenok | Moment | Getty ImagesOnline spending on Thanksgiving Day jumped 5.5% compared to a year ago, according to Adobe Analytics, a reflection of holiday shoppers who are buying more of their gifts online and responding to discounts.E-commerce sales totaled $5.6…

Target hosted a free "Winter Wonderland" event in New York City to show off the holiday season's hottest toys. It's an example of the extra effort that retailers are putting in to motivate shoppers.Melissa Repko | CNBCNEW YORK CITY — On a recent weekend in downtown Manhattan, a long line of families with strollers and small children lined up to step inside of Target's "Wonderland"Santa's helpers handed out free cookies. Mario and Luigi from Nintendo's "Super Mario" video game posed for photos. A toy train winded through a…

Macy's Herald Square store in New York is shown on Aug. 21, 2023.View Press | Corbis News | Getty ImagesMacy's on Thursday topped Wall Street's quarterly expectations, as inventory and margin improvement helped offset an 7% year-over-year decline in sales.The department store chain's shares popped 10% in premarket trading.Here's what the retailer reported for the fiscal third quarter compared with what analysts expected, according to consensus estimates from LSEG, formerly known as Refinitiv:Earnings per share: 21 cents…