New York City -- Macy's and some 4,000 of its New York-area workers said Thursday they have reached a tentative contract agreement after a night of negotiations.
The agreement, if ratified, will avert what could have been the department store chain's first strike in nearly 40 years.
"Following an all-night negotiating session, Macy's is pleased to have reached a tentative agreement with Local 1-S of the RWDSU on a new five-year agreement," Jim Sluzewski, Macy's spokesman, said.
The current contract, signed in 2006, was extended by 45 days in early May and expired at midnight on Wednesday.
"We look forward to a ratification of the agreement by our associates, and to serving our customers without interruption,” Sluzewski added. “This tentative agreement reflects tremendous efforts by company and union negotiators over the past several weeks to reach an agreement that addresses the economic and business realities of the retailing industry.”
The deal will face a vote by union members, and details have not been disclosed.