UPDATE:

Salvation Army will give more Clark County kids bikes this year

Macy’s details 2017 earnings report. Will more stores close?


Sales declined at Macy’s stores compared to the previous year, according to the company’s end-of-year fiscal results.

Sales in fiscal 2017 totaled nearly $25 billion, down 3.7 percent from total sales of nearly $26 billion in fiscal 2016. Comparable sales on an owned basis declined 2.2 percent in fiscal 2017. However, sales in the fourth quarter of 2017 totaled $8.6 billion, an increase of 1.8 percent.

» TRENDING BUSINESS NEWS: 5 retailers closing stores in Ohio this year

In February, the company announced that it will close its Redmond Town Center main store in Redmond, WA, in early 2019. This brings the total to 83 of the approximately 100 store closures announced in August 2016. Another 17 stores will likely be impacted.

Some stores in Ohio have closed within the past year. Macy’s announced last year that it would close locations in Columbus, Sandusky and Steubenville. More than 193 employees were impacted in Ohio. The retailer also announced it would close its downtown Cincinnati location in 2018.

The company has also signed an agreement to sell eight of 14 floors of its State Street store in Chicago to Brookfield Asset Management. Brookfield intends to convert these largely unused floors into dynamic, creative office space. As part of this transaction, Macy’s Inc. will receive a total of $30 million.

The company is also looking to sell part of its property in San Francisco. Total sales are also expected to be down between 0.5 percent and 2 percent in fiscal 2018.

FIVE FAST BUSINESS READS

Macy’s outlet store to open at shopping center in Dayton area

Toys “R” Us reportedly plans to close another 200 stores

Check out this $1 million home for sale in Clearcreek Twp.

Tyra Patterson: Every day is a second chance

Kroger sells off convenience store business for $2.15B



Reader Comments


Next Up in Business

Why optimism has fled the auto industry
Why optimism has fled the auto industry

Auto dealers today are no longer optimistic about market conditions, a new survey has found. The Q4 2018 Cox Automotive Dealer Sentiment Index takes measure of how U.S. auto dealers, both franchised and independent, are feeling about the auto business and vehicle sales. The survey was taken between Oct. 24 and Nov. 6, 2018, with questions focused on...
Dayton Air Show leader inducted into national hall of fame
Dayton Air Show leader inducted into national hall of fame

Dayton Air Show Executive Director Terry Grevious has been inducted into the National Air Show Hall of Fame. Grevious was inducted into the hall of fame over the weekend at the International Council of Air Shows Annual Conference in Las Vegas. He has spent more than 40 years in the air show industry, managing the Flint Bishop Air Show, Muskegon Air...
Next DP&L leader will face changing company, utility needs
Next DP&L leader will face changing company, utility needs

Dayton Power and Light’s next chief executive will take over a power company that has greatly changed in past years with workforce and business restructuring. For the second time in less than a year, the company that supplies power to 515,000 customers in 24 counties throughout west central Ohio announced this week a change at the company&rsquo...
Kroger reopens Derr Road store after $7 million renovation
Kroger reopens Derr Road store after $7 million renovation

The Kroger store on Derr Road held a grand reopening Friday morning after a $7 million remodel. The renovations will help Kroger continue to be one of the top grocery stores in the region, said Kimberly Cooley, manager of the Derr Road store. Kroger started construction on the store on May 1. “We decided to remodel to invest in our store and...
Parents and homeowners: check for these recalled products
Parents and homeowners: check for these recalled products

The latest recalled products include high chairs, children’s clothing, and shower-related items, according to the Consumer Product Safety Commission. Skip Hop is recalling over 30,000 Tuo convertible high chairs because the legs can detach and cause your child to fall. There are 17 reports of legs coming off of the high chairs, but no injuries...
More Stories