Macy's slashes job pledge, ups investment for $640M Rowan County distribution center [Yahoo! Finance]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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Source: Yahoo! Finance
The retailer has also slashed its job-creation pledge there, a Macy's spokesperson confirmed to the Charlotte Business Journal today. Macy's is planning to open its more than 1.4 million-square-foot facility in the summer of 2025. The projected investment there is up to $640 million. Macy's initially expected to invest $584 million upon starting the project in 2022. The facility is now expected to employ just over 1,300 people, which is down from nearly 2,800 total workers planned in 2022. ALSO READ: Macy's to downsize; 150 stores are closing The facility is being built on 200 acres just off Exit 68 of Interstate 85. A Macy's spokesperson said the increased investment is being made to “outfit the facility with cutting-edge technology and ensure China Grove will operate with maximum efficiency.” The facility was initially targeting an opening in the second half of this year. Read more here VIDEO: Macy's closing some stores in 2022
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