Macy’s closed out 2013 with a bang … and a round of layoffs.
“The 2013 holiday season was successful for Macy’s and Bloomingdale’s as we offered fresh and distinctive merchandise, delivered great value to the customer and provided a robust omnichannel shopping experience,” the company boasted in a press release this week.
All this despite “a questionable macroeconomic environment with challenging weather in multiple states.”
According to the company, its holiday shopping performance was “yet another vote of confidence that our well-established strategies continue to work for us.”
“Well-established strategies,” you say?
In a separate press release, Macy’s detailed one of those “well-established strategies” – firing hundreds of workers as part of the company’s “cost reduction initiatives to support continued profitable sales growth.”
Wow … guess all those holiday discounts have taken a toll …
“As the success of these strategies has unfolded, we have identified some specific areas where we can improve our efficiency without compromising our effectiveness in serving the evolving needs of our customers,” the company’s chairman, president and CEO Terry J. Lundgren noted.
Good Lord who writes this stuff …