Macys to close stores

Macy's to close stores!!!

Macy's is scheduled to close 9 stores after the 1st of the year. This leaves me wondering if they might be going out of bussiness. Sales have been down over the last year, especially in many other retail establishments. Other high end retailers are set to close stores and file for bankruptcy including: Ann Taylor, Eddie Bauer, Cache, Lane Bryant, Gap, Foot Locker, Bombay,Ethan Allen, Sharper Image, Dillards, and Liz Claiborne just to name a few. There are a few others that have not been publically announced to the public, so be careful when buying gift cards this season and try to only buy visa or american express cards. The economy is not only affecting the everyday people like us, but the fashion industry and the retail establishements. This is going to put many people out of jobs and increase the unemployment rate tremendously. The fashion world is trying to keep people spendign by developing sales strategies and promotions that appeal to the decline in the economy and people that are loosing money and jobs. I am interested to see if this turns itself around and starts to go in the oposite direction in a more positive flow. Macys was the last department store or retail establishment that I thought would ever close. This is scary!!!!