Macy's shares climb as stores to close
Shares of retailer Macy's Inc. nudged up marginally last week to a Friday close of $37.94 per share after the company announced a round of store closings.
The Cincinnati-based department store recently released a list of six locations - one Bloomingdale's and five Macy's stores - that would be closing in the spring.
Macy's will close stores in downtown Houston; Pasadena, Calif.; Belmont, Mass.; Honolulu; and St. Paul, Minn.; and a Bloomingdale's in Las Vegas. The department store chain will have 600 stores.
Macy's also reported December same-store sales increased 4.1 percent from December 2011, to total slightly more than $5.1 billion, a rate of growth better than other retailers, whose season was generally flat.
Also, Macy's was one of several retailers that agreed to settle U.S. government lawsuits that accuse the companies of selling rayon fabrics mislabeled bamboo fiber. The companies agreed to make payments to the government and accept compliance monitoring and reporting but did not admit or deny the Federal Trade Commission accusation.
Macy's operates more than 800 retail stores in the U.S., including in Dickson City and Wilkes-Barre Twp.