(Reuters) - Macy's Inc said it will eliminate more than 2,000 jobs and consolidate operations after reporting weak holiday sales, highlighting a downturn in apparel demand that has likely taken a similar toll on other department stores and clothing chains. Macy's said comparable sales at stores open for more than a year tumbled by 4.7 percent in November and December, far worse than what it had estimated in November, and it cut its earnings outlook for the second time in two month

More...

More...