Macy’s adding 725 to expand Web sites

By Dow Jones Newswires
Posted Jan. 4 at 8:06 a.m.

Macy’s Inc. expects to add about 725 new positions during the next two years as it looks to expand its Web site offerings.

Shoppers have been increasingly moving their business online, and Macy’s, for its part, has seen its online sales grow in the double digits on a percentage basis over the past few years. For the first 10 months of fiscal 2010, online sales were up 29 percent.

Macy’s, which has about 161,000 employees, expects to add the positions in New York and San Francisco to expand and The retailer has also boosted its office space in both cities.

U.S. companies, sitting on near-record stockpiles of cash, have been looking for ways to put it to work, but few have used those funds for hiring.

Last month, Macy’s raised its fiscal fourth-quarter forecast as it reported November sales that beat Wall Street’s expectations. The retailer has benefited from consolidation of its divisions and introduction of new brands, as well as its strategy to tailor its offerings to local markets. Much of the sector has seen improvement, despite persistently high unemployment and housing-market weakness weighing on consumers.

Shares were inactive premarket and closed Monday at $25.44. The stock is up 49 percent over the past 12 months.

-By Lauren Pollock

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  1. Chiloyal Jan. 4 at 8:30 a.m.

    Macy’s stores are so dirty I can see why people would rather go online, but I still don’t see Macy’s offering merchanise I consider worth buying with either option. Sorry, but I still miss my Marshall Field’s, especially going INSIDE the store to shop.

  2. George Jan. 4 at 12:10 pm

    At least Macy’s on State Street is doing better than Block 37.

    In 2010, Block 37 only added 8 new stores/food place. They should had put Kohls, CB2, Apple store, and Carson Pirie Scott in that space. Or keep it as an ice skating rink.