Dallas, Texas 01/13/2014 (FINANCIALSTRENDS) – Macy’s Inc. (NYSE:M) has since seen an increase in the upside, over the holiday season shopping. One of the largest departmental stores in the US, Macy’s does set some standards in terms of products and services. It has chosen to further drive higher sales by cutting down on costs and is expected to match intentions with numbers.
Cost cuts lead to layoff
Macy’s Inc. (NYSE:M) in its attempt to make profitable numbers, this quarter, is on a drive to cut operational costs. This includes closure of non-performing stores and layoffs to the tune of nearly 2,500 employees. These two operations alone are expected to save nearly $100 million in a year for the company.
Continue legal stand-off against JCP
Macy’s Inc. (NYSE:M) it appears will continue its legal tiff with J.C.Penney and may not settle it non-legally, according to unconfirmed reports.
J.C.Penney, on its come-back trial to retail success, has been reviving its brands of the old school – Martha Stewart – and others who had driven sales at JCP. However, a selling agreement between the JCP and Macy’s did not include Martha Stewart Living Omnimedia. Though Macy has since concluded the dispute between itself and Martha Stewart, it continues its legal tussle with JCP. Macy’s Inc. (NYSE:M) contends it will continue to sell Martha Stewart products, which will largely affect JCPs sale number substantially.
Macy’s Inc. (NYSE:M) is a $20.58 billion market cap company with EPS of 3.52 and PE of 15.80. The company trades between 52week high and 52-week low of %56.09 and $36.35 respectively. It also has trade volumes of 6,051,098. It has been one of the most recognized of US departmental store brands and offers single channel retails sales of apparel – for men, women and children, accessories to home furnishing, cosmetics and consumer goods at cost-effective prices.