OPERATIONS

Macy’s to expand e-commerce organization, add 725 jobs

BY CSA STAFF

New York City — Macy’s said Tuesday that it plans to expand its website offerings and would add about 725 new positions over the next two years to implement the e-commerce expansion plan.

The department store retailer said the positions would be added in New York City and San Francisco to expand macys.com and bloomingdales.com. About 260 of the jobs will be in New York City, said Macy’s. The positions will be for macys.com and will concentrate on merchandising and marketing. Another 200 macys.com positions will be added in downtown San Francisco at its site development and operations facility.

Bloomingdales.com expects to add about 115 positions at its merchandising, marketing and operations facility in New York City. Other jobs will be added in additional facilities.

Macy’s said its online sales climbed about 29% in the first 10 months of fiscal 2010. The company announced previously that it would build a new $150 million online fulfillment center near Martinsburg, W. Va., and will hire 1,900 full- and part-time employees there. The company is also expanding a fulfillment center near Portland, Tenn.

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FINANCE

Report: U.S. retail sales up 3.6% year over year

BY CSA STAFF

New York City — A report released Tuesday by the International Council of Shopping Centers and Goldman Sachs Group said that U.S. retail sales are up 3.6% on a year-over-year basis.

Same-store sales at a selection of U.S. retailers rose 0.4% from the week ended Jan. 1 from the prior week, the groups also said.

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FINANCE

More Borders woes: Two execs resign

BY CSA STAFF

New York City — On the heels of Monday’s announcement that Borders Group is delaying payments to some of its vendors, the bookseller said Tuesday that two senior-level executives have departed.

Thomas Carney, general counsel, and D. Scott Laverty, chief information officer, both resigned from their posts Monday evening.

The news was disclosed in a Securities and Exchange Commission filing Monday. Borders told the Wall Street Journal that the departures were part of its previously disclosed efforts to improve liquidity.

Borders is looking to refinance its debt, a plan that may include asking publishers to convert some of their receivables to debt, plus the infusion of new capital, and new bank lenders. The chain is setting up meetings with leading publishers in New York this week to explain its refinancing strategy.

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