Retail Detail. Talk of Macy’s Consolidating

November 14, 2008 • Shopping

According to WWD, embattled Macy’s Inc. is possibly looking at downsizing to two divisions from the current four. The proposed plan would fold Macy’s Florida in Miami and Macy’s Central in Atlanta into the New York-based Macy’s East and San Francisco-based Macy’s West divisions.

Wednesday the retailer reported a net loss of $44 million for the third quarter. “We can’t comment on rumors, but we are fully focused on running the business for holiday,” said spokesman Jim Sluzewski.

Sadly, a consolidation would affect hundreds of employees, yet save the corporation Macys_3
millions of dollars. Most of Macy’s competitors are totally centralized such as Kohl’s, J.C. Penney and Sears.

Earlier this year, Macy’s shrank from seven to four divisions, eliminating 2,550 positions from buyers to back-office workers and senior officials. Macy’s North, Midwest and Northwest divisions were folded into the Macy’s East, Central and West divisions, respectively. The Bloomingdale’s division of Macy’s Inc. is not affected by the regional consolidations.

Sources said any further streamlining wouldn’t happen until next year.

Read more "Macy’s Said Considering Consolidation" here.

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