After a disappointing holiday season, Macy's Inc. said Wednesday that it planned to cut about 4,800 jobs and close 40 stores as part of efforts to slash costs.
The department store chain, which is closely associated with the holiday season, said comparable sales for November and December 2015 dropped 4.7% compared with the previous year.
Also read: Southeast Missouri seeks to rebound in 2017
18:12 Cincinnati Reds sign OF Ryan Raburn23
14:56 Dellin Betances loses arbitration case against Yankees, will get $3 million next season25
12:59 Sprint's new unlimited plan adds HD streaming, four lines for $9017
03:17 Arizona Diamondbacks RHP Taijuan Walker loses arbitration case, will make $2.25 million22