Macy's will close 11 stores, cut jobs, despite strong holiday sales

Macy’s says it enjoyed sales growth during the holiday season, but the improvement wasn’t enough to offset a tough year.  The department store said Thursday sales at established stores rose 1 percent in the November-December period. It now expects that figure to decline between 2.4 percent and 2.7 percent for the year. Total revenue is forecast to decline 3.6 percent to 3.9 percent compared to a year earlier.
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