Category: Closing

Iran’s Jesus Revolution? Mosques Close as 1 Million Muslims Accept Christ

CBN NEWS: Amid talk of a broader war in the Middle East, there is also news that a Jesus Revolution may be underway. An unprecedented number of Muslims are choosing to follow Christ, especially in Iran as people search for a better life. Iranians are growing tired of the ayatollahs and a nation led by the empty promises of their Islamic theocracy. An anonymous internal poll found that 80% now prefer a democratic government, and many are leaving Islam.

Macy’s Closing 150 Stores By 2026, Pivoting To Luxury Sales

NORTH MIAMI, FL - MAY 23: Customers walk out of Macy's the day after the company announced that the 56 Burdines stores and the seven Macy's stores in Florida all will operate under the combined name of Burdines-Macy's May 23, 2003 in North Miami, Florida. The union is part of a strategy by parent company Federated Department Stores to use the national marketing clout of the Macy's name and take advantage of larger buying power. All of Federated's regional department store chains will make similar moves. The Miami-based Burdines will actually be the last one to be converted to the same name. (Photo by Joe Raedle/Getty Images)

OAN’s James Meyers
10:00 AM – Tuesday, February 27, 2024

SEE: https://www.oann.com/newsroom/macys-closing-150-stores-by-2026-pivoting-to-luxury-sales/; republished below in full, unedited, for informational, educational, & research purposes:

Macy’s plans to close almost 150 locations nationwide in order to move towards leaning more heavily on its luxury Bloomingdale’s and Bluemercury chains. 

The retail store made the announcement Tuesday morning, stating it was entering a “bold new chapter” with a new CEO, Tony Spring.

The announcement also stated that Macy’s will shut down approximately 50 stores by the end of the company’s current fiscal year. 

Once the planned closures occur, Macy’s will be down to 350 stores altogether. In response to the closures, the retail giant will add almost 45 Bloomingdale’s and Bluemercury locations. 

“A Bold New Chapter serves as a strong call to action. It challenges the status quo to create a more modern Macy’s, Inc. We are making the necessary moves to reinvigorate relationships with our customers through improved shopping experiences, relevant assortments and compelling value,” Spring said in a statement. “Our teams are energized by the work ahead as we accelerate our path to market share gains, sustainable, profitable growth and value creation for our shareholders.”

Additionally, Macy’s has been under pressure due to its underperformance over the past few years. According to The New York Times, the under-performing locations accounted for 25% of the company’s square footage but just 10% of its sales. 

The latest announcement comes less than a month after the retail store announced another series of closures in January. That resulted in the closure of five locations and removing 2,350 positions, or 3.5% of the company’s workforce. 

Furthermore, in October, the retailer announced that it’s increasing its small-format store expansion by opening up 30 smaller stores across the U.S.

Department stores have seen an increase in revenue in recent years, with the COVID-19 Pandemic causing stores such as J.C. Penney and Neiman Marcus, both of which filed for bankruptcy protection in 2020. 

Macy’s announcement caused shares to trade at more than 2% lower in premarket action. 

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Why Are Banks And Retailers Closing Thousands of Branches?

VIDEO PLAYS ON YOUTUBE ONLY

SEE: https://www.youtube.com/watch?v=PuFUufLjKFM

Why Are Banks and Retailers Closing Thousands of Branches? In today's rapidly changing economic landscape, the impact of various factors such as inflation, bank closures, and business shutdowns cannot be overstated. The economy is facing unprecedented challenges, with repercussions that extend far beyond the financial sector. As bank closures and retailers shutter thousands of stores, questions about the future of our money and the stability of our businesses loom large. The year 2024 has brought with it a wave of uncertainty, with headlines dominated by news of bank crises and business collapses. The implications of these developments ripple through every aspect of our lives, from the way we manage our finances to the prices we pay for everyday goods. It's a stark reminder of the interconnectedness of the global economy and the fragility of our financial systems. Amidst this backdrop of turmoil, discussions about the root causes of these challenges are paramount. Inflation has emerged as a key driver, eroding the purchasing power of consumers and placing strain on businesses already grappling with rising costs. The cost of living crisis is no longer a distant concern but a harsh reality for many households. The domino effect of bank closures further exacerbates these issues, as communities are left underserved and individuals are left without access to essential financial services. The bank collapse of 2024 has sent shockwaves through the finance industry, prompting reflection on the systemic vulnerabilities that have led us to this point. At the intersection of politics and the economy, tough decisions must be made to navigate these turbulent waters. The repercussions of bank shutdowns and business closures extend far beyond the balance sheets, shaping the social and political landscape in profound ways. While the video aims to shed light on these pressing issues, it is only the beginning of a much larger conversation. The complexities of the economy defy simple explanations, and the solutions to our current challenges will require collaboration and innovation on a global scale. As we delve into the intricacies of finance and the dynamics of business, let us remember that each data point represents real people and real communities grappling with uncertainty and hardship. If you find this video informative and thought-provoking, please give it a thumbs up and consider subscribing to our channel for more captivating content. Don't forget to hit the notification bell to stay updated with our latest videos. Share this video with your friends and family who may find it interesting. Keep watching to see economy, bank crisis, inflation, finances, cost of living, business shutdown.