23
Fashion Jobs
BEST SELLER
Payroll Coordinator Slovenia
Permanent · LJUBLJANA
JACK & JONES
Sales Representative Jack & Jones Slovenia
Permanent · LJUBLJANA
INDITEX
Svetovalec za Prodajo / Blagajnik (m/ž)
Permanent · KOPER
INDITEX
Svetovalec za Prodajo / Blagajnik (m/ž)
Permanent · LJUBLJANA
INDITEX
Svetovalec za Prodajo / Blagajnik (m/ž)
Permanent · CELJE
BEST SELLER
Business Developer
Permanent · LJUBLJANA
BEST SELLER
Finance Business Partner
Permanent · LJUBLJANA
NAME IT
Sales Representative Name IT Slovenia
Permanent · LJUBLJANA
SELECTED FEMME/HOMME
Sales Representative Selected Slovenia
Permanent · LJUBLJANA
VERO MODA
Sales Representative Vero Moda Slovenia
Permanent · LJUBLJANA
C&A
Prodajni Svetovalec 808 Koper, 40h
Permanent · KOPER
H&M
Prodajalec (m/ž) - Sales Advisor 40h
Permanent · MURSKA SOBOTA
SPORTS DIRECT
Prodajalec - Sports Direct, Btc
Permanent · LJUBLJANA
H&M
Prodajalec (m/ž) - Sales Advisor
Permanent · LJUBLJANA
JACK & JONES
Sale Assistant (Fulltime) Jack & Jones Celje City Center/Slowenien
Permanent · CELJE
JACK & JONES
Shop Manager (Fulltime) Jack & Jones Celje City Center/ Slowenien
Permanent · CELJE
JACK & JONES
Sale Assistant (Fulltime) Jack & Jones Planet Koper/Slowenien
Permanent · KOPER
JACK & JONES
Store Manager (Fullime) Jack & Jones Planet Koper / Slowenien
Permanent · KOPER
C&A
Prodajni Svetovalec 808 Koper, 40h
Permanent · KOPER
BEST SELLER
People & Culture Business Partner
Permanent · LJUBLJANA
BEST SELLER
Marketing & Communications Specialist
Permanent · LJUBLJANA
BEST SELLER
Accounts Receivable
Permanent · LJUBLJANA
By
Reuters API
Published
Feb 26, 2019
Download
Download the article
Print
Text size

Macy's new restructuring to cut 100 senior positions, save $100 million annually

By
Reuters API
Published
Feb 26, 2019

Macy’s Inc said on Tuesday it would cut 100 senior management positions as the department store operator seeks to cut costs and improve profitability after reporting bleak holiday sales.


Macy's



The company said it expects the move to yield annual savings of $100 million, starting fiscal 2019.

“The steps... will allow us to move faster, reduce costs and be more responsive to changing customer expectations ... These actions impact colleagues who have made strong contributions to the company over the years,” Chief Executive Officer Jeff Gennette said.

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 streamlining of its senior management would involve eliminating about 100 vice president or higher-level positions.

The company now forecasts adjusted profits for fiscal 2019 between $3.05 to $3.25 per share, below analysts estimates of $3.29.

Macy’s also reported a smaller-than-expected 0.7 percent rise in holiday quarter same-store sales on Tuesday, which were also below the company’s own expectations.

The restructuring efforts comes a month after Macy’s tempered expectations for the holiday season by slashing its fiscal 2018 revenue and profit forecast on weak demand for women’s sportswear, seasonal sleepwear, fashion jewelry, fashion watches and cosmetics.

On Tuesday, Macy’s posted better-than-expected adjusted profit during the fourth quarter. Shares of the company were trading up about 2 percent at $24.88 in morning trading.

© Thomson Reuters 2024 All rights reserved.