Macy's Inc said on Tuesday it would cut 100 senior management positions as ...
People shop during a Black Friday sales event at Macy's department store in Manhasset, New York, U.S., November 23, 2018. REUTERS/Shannon Stapleton
The company said it plans to improve productivity by introducing initiatives to grow margin through efficient management of its inventories and supply chain, while investing in categories where the company already has strong market share such as dresses, fine jewelry, men’s tailored, women’s shoes and beauty.
The company now forecasts adjusted profits for fiscal 2019 between $3.05 to $3.25 per share, below analysts estimates of $3.29.
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