A Major Retailer Will Close Five Mall Anchor Stores And Cut 3.5% Of Jobs
Macy’s unveiled a strategic restructuring strategy as a major step in reviving its image and adjusting to the constantly shifting retail scene. The venerable department store chain plans to close five of its full-line locations and reduce staff by 3.5%. This occurs as incoming CEO Jeff Gennette’s successor, Tony Spring, a new leader with new ideas, gets ready to assume over.
A corporate spokeswoman acknowledged the employment reduction, citing the necessity to become a more nimble and efficient organization in order to meet changing market and customer needs. This action is in line with Macy’s resolve to maintain its leadership in the cutthroat retail sector.
It is noteworthy that activist investors hoping to profit from Macy’s real estate holdings had made a bid that the retailer had been considering. Tony Spring will soon take over as CEO, thus this reorganization may indicate that Macy’s will once again prioritize its core competencies and long-term growth plans.
The outgoing CEO, Jeff Gennette, had earlier stated that the major shop reductions that had been going on since 2016—which included the closure of over 170 locations—had come to a stop with the announcement of the closures a year ago. Analysts for the sector have speculated that there may be more closures to come.
Increased presence in smaller, off-mall sites is one of Macy’s proactive efforts. In order to accommodate changing consumer tastes, executives have stressed the significance of striking the correct balance between in-store and off-mall establishments. Five full-line stores will be closed in the upcoming year as part of a broader initiative to maximize Macy’s shop portfolio.
The first publication to report on these changes was The Wall Street Journal, which referenced an internal memo to staff members that disclosed intentions to remove some 2,350 corporate roles in the upcoming month. Initiatives like supply chain automation, outsourcing, and quicker decision-making procedures targeted at boosting competitiveness and efficiency are predicted to be the main drivers of these reductions.
Apart from shutting down its locations, Macy’s is also planning to sell and move two of its furniture stores. This calculated move demonstrates Macy’s dedication to maximizing its asset base and reallocating funds where they will have the biggest impact.
The Macy’s anchor stores in the impacted malls—which are situated in Virginia, Florida, Hawaii, and California—will close. Although there may be some short-term interruptions, this is in keeping with Macy’s goal of building a network of stores that is more dynamic and effective.
Macy’s is setting out on this revolutionary journey with a conservative mindset, intent on upholding its heritage while adjusting to the reality of the new retail environment. Tony Spring’s new team is well-positioned to lead the business into a more promising future and maintain Macy’s position as a mainstay of American retail.
It will be interesting to watch how these developments pan out and how Macy’s redefines its position in the cutthroat retail market as this retail behemoth keeps changing. Watch this space for further information about Macy’s makeover and its attempts to remain competitive in the retail industry.
NBA player R.J. Hampton has confessed in a new video that he hurt the mother of his child, leaving bruises. This admission has come as a big shock to many.
NBA G League player R.J. Hampton admitted on video that he left “bruises” on his ex, Tiffany Jeffcoat, who is the mother of his child.
On Monday, Jeffcoat, who has over 1.5 million followers on TikTok, posted a video of herself confronting Hampton. She said he was trying to take their 1-year-old son, Halo, from her while they were traveling.
In the video, Hampton can be heard yelling at Jeffcoat, saying, “Shut the f–k up talking to me, b–ch! Please!” as their son climbed near his feet. Hampton also said, “I don’t care if you got me on recording. I could care less.”
On Monday, the influencer shared a video of herself confronting the NBA first-round draft pick, claiming he was trying to “take” away their 1-year-old son, Halo.
tiff.jeffcoat/TikTok
Hampton, 23, said he was “afraid” Jeffcoat would accuse him of abusing her when he took their son.
Jeffcoat responded by reminding him that he had hurt her before. Hampton, who is 6-foot-4, got angry and told her, “Get the f–k outta here with that stupid stuff.”
She then reminded him that she has pictures of the bruises he allegedly left on her arms. Hampton seemed unbothered, saying no one would “care.”
Jeffcoat told him, “But they came from your hands.” Hampton responded, “Of course they did. Did I punch you? Did I slap you? So shut the f–k up!”
tiff.jeffcoat/TikTok
tiff.jeffcoat/TikTok
Jeffcoat replied, “Just because you didn’t punch me doesn’t mean it’s okay. Wow.”
Hampton also insulted her mom, saying he didn’t care if his son’s grandmother was “dead or alive.”
In another TikTok video, Jeffcoat said she was “stranded” in Oklahoma with “no hotel, no car” and claimed Hampton took their son from her.
She said, “R.J. literally grabbed Halo off the ground, walked out, got in the car, and left. He didn’t tell me where they were going… didn’t take any of his stuff. He’s not allowed to do that.”
tiff.jeffcoat/TikTok
tiff.jeffcoat/TikTok
Jeffcoat said she called the police, but they couldn’t help because it was “a civil matter.”
Page Six tried to contact Hampton’s representative for a comment but didn’t get a response right away.
Not much is known about Hampton’s relationship with Jeffcoat.
After Jeffcoat’s video went viral, Hampton turned off the comments on his Instagram.
tiff.jeffcoat/TikTok
rj14/Instagram
Hampton was picked by the Milwaukee Bucks as the 24th pick in the 2020 NBA draft.
In September, he was traded to the Delaware Blue Coats, a team in the NBA’s G League.
In August, Hampton celebrated his son’s first birthday with a sweet post on Instagram.
He wrote, “Mr. Freaking Halo Man!! Bubs I can’t believe you are 1 year old Daddy wants you to stay little forever and ever!!” and shared a bunch of pictures of him with his son.
rj14/Instagram
NBAE via Getty Images
NBAE via Getty Images
Hampton wrote, “Honestly, buddy, you are the greatest blessing God ever gave me. You’ve taught me so much about who I am and who I want to be for you! ”
He said he would always be there for Halo and would “continue to set a great example for you and work hard every day to give you everything you deserve, and that’s the world!!”
He finished with, “You are my heartbeat, I can’t imagine life without you, and life before you doesn’t matter anymore. Me and you, little man!! The legacy continues, and I can’t wait for you to have the best day. Happy 1st birthday, Halo. I love you forever
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