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Shift To Online Sales Pushes Macy’s to Trim Workforce, Close Stores

Not even a surge in holiday sales could stem the inevitable as consumers shopping behavior change.

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By: TOM BRANNA

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Holiday 2023 retail sales met retailers' expectations, but the ongoing shift to online shopping continues to reshape the retail landscape. Macy’s will lay off about 3.5% of its workforce (approximately 2,350 employees) and close five stores as it continues to shrink its retail business and shift its focus to online shopping. This news comes despite the fact that Americans stepped up their spending at retailers in December, closing out the holiday shopping season and the year on an upbeat...

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