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Macy’s is laying off about 3.5% of its workforce, or roughly 2,350 employees, and closing five stores as it continues to shrink its massive retail business for the online shopping era.
The company had 94,000 employees and an annual revenue of 25.3B as of January, 2023. Macy's has conducted the annual Macy's Thanksgiving Day Parade in New York City since 1924 and has sponsored the city's annual Fourth of July fireworks display since 1976. Macy's Herald Square is one of the largest department stores in the world.
The "discount rate" is the rate at which the "discount" must grow as the delay in payment is extended. This fact is directly tied into the time value of money and its calculations. The present value of $1,000, 100 years into the future. Curves representing constant discount rates of 2%, 3%, 5%, and 7%
Here's what Macy's reported, compared to Wall Street's estimates, according to Bloomberg data: Net sales: $4.85 billion versus $4.81 billion Adjusted EPS: $0.27 versus $0.14
No surprise here: Macy’s After Christmas Sale is the best place to start. The sale offers 20-to-60% off brands like Columbia, Bar III, Michael Michael Kors, Tommy Hilfiger and many more!
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