Disappointing sales over the Christmas holidays have prompted swathing cuts at US department store giant Macy’s.
The company is expecting a 2.7% drop in annual same-store sales to January, more than the previously predicted 2.2% drop.
"In light of our disappointing 2015 sales and earnings performance, we are making adjustments to become more efficient and productive in our operations," said chief executive Terry J. Lundgren in a statement. "In some cases, there will be short-term pain as we tighten our belt and realign our resources."
