Macy's will be permanently shuttering several stores in 2023 as part of its Polaris transformation strategy which aims to optimize and reposition its mall and off-mall locations. The first batch of closures will take place in Los Angeles, Colorado, Maryland, and Hawaii. A clearance sale, which will run for approximately eight to 12 weeks, is set to begin this January.
In a statement to Axios, Macy's said it was committed to offering employees generous severance packages or alternate jobs in nearby locations. In February 2020, the department store chain, which includes Bloomingdale’s and Bluemercury, announced its intention to shutter a fifth of its locations (or 125 stores) as part of a three-year plan. This was followed by several rounds of closures from 2020 to 2022.
Managing Director of Global Data, Neil Saunders, addressed the Macy's store closures, saying most of the heavy lifting has been completed. He also told Axios that much of the "dead wood" has been cut out. "What we are seeing now is more an opportunistic and gentle pruning," he explained. He added that more shuttering is likely to follow as the retailer has many sub-optimal stores that will probably perform poorly in the struggling economy.
However, the high-end department store chain has opened quite a few new locations in 2022. This includes smaller format and new off-mall stores, as well as four Market by Macy’s outlets. Bloomingdale's is also set to open its third Bloomies in Seattle later this year, after successfully opening the same mini stores in Chicago and Virginia......More Below
BEIJING (Sputnik) - China has begun operating the world's first intelligent ultra-large oil tanker powered by methanol, the China Central Television (CCTV) reported on Monday.
The tanker, designed to transport crude oil, was successfully put into operation in the city of Dalian in China's northeastern coastal province of Liaoning, the report said. State-owned company Dalian Shipbuilding Industry Co Ltd independently designed and built the vessel, it added.
The tanker is approximately 333 meters (1,092 feet) long and can carry around 2.1 million barrels of crude oil, the CCTV reported. Designed to produce low emissions and having intelligent control capabilities, the tanker will serve the route to the Middle East, among others, according to the report.
The vessel is powered by a dual-fuel methanol engine, which reduces carbon dioxide emissions by 92% compared to conventional fuel, the CCTV reported. It is equipped with an intelligent ship platform, an intelligent liquid cargo ...
A car bomb has killed a senior General Staff member, officials have confirmed
Source: The Investigative Committee
A Russian general has been killed in a car bomb blast in Moscow, the Investigative Committee has reported.
Officials identified the victim as Lt. Gen. Fanil Sarvarov, head of operational training at the General Staff. According to the statement, an explosive device had been planted beneath the vehicle he was traveling in, and detonated on Monday morning in the southern part of the Russian capital.
The blast also damaged several other vehicles and seriously injured Sarvarov’s driver, media reports stated.
Russian officials said one line of investigation is an assassination carried out by Ukrainian intelligence services, noting that Kiev has previously used explosive devices in targeted killings of officials and public figures.
Last December, a bomb hidden in an e-scooter killed Lt. Gen. Igor Kirillov, commander of Russia’s Nuclear, Chemical, and Biological Defense ...
The Israeli regime appears to be laying the groundwork for a permanent military presence in large parts of the Gaza Strip, according to a new satellite imagery analysis that documents extensive construction, infrastructure expansion, and continued destruction of Palestinian property since a ceasefire took effect in October.
Research released by Forensic Architecture, a multidisciplinary research group, and published by the Drop Site News outlet on Saturday showed that the regime had built at least 13 new military outposts inside Gaza since the ceasefire came into force on October 10, while accelerating the expansion and consolidation of 48 existing outposts.
The findings suggested that Israeli forces were not merely holding temporary positions, but physically reshaping the territory in ways consistent with long-term control.
The analysis, based on satellite images from October 10 to December 2, indicated that the regime now maintained a dense network of military infrastructure east of...
