Faced with sliding sales and profits, Macy’s will close about 100 stores next year as the department store chain continues to shrink in the face of online competition and shoppers seeking new alternatives.The company announced a series of strategic changes Thursday aimed at setting up the retailer for more sustained growth in the future. The plan includes bringing in more brand shops within the stores, improving online search and ordering and hosting in-store events to drive traffic.The 100 closures, about 15% of Macy’s 675 full-line locations, are only the latest round of closures Macy’s has undertaken in recent years to cast off its lowest-producing stores when profitability has waned . Macy’s hasn’t announced which locations will close, but said they represent about , excluding ngsalest thecompanyexpect.tstoretainonlineoratnea rbystores. That' snearly 4Investorsgreetednewso ffhechangesenthus usiastically sendingMacy'sstockup1739.81 a share, up , excluding ngsalest thecompanyexpect.tstoretainonlineoratnea rbystores. That' snearly 4Investorsgreetednewso ffhechangesenthus usiastically sendingMacy'sstockup1711 million, down from , excluding ngsalest thecompanyexpect.tstoretainonlineoratnea rbystores. That' snearly 4Investorsgreetednewso ffhechangesenthus usiastically sendingMacy'sstockup175.9 billion, beating analyst expectations for sales of 5.8 billion, according to S&P Global Market Intelligence. Sales at stores open at least a year fell 2%.The company also beat earnings estimates for 48 cents a share—excluding certain one-time costs, it earned 54 cents a share. Investors seemed pleased with the financial performance and plans to become a leaner business.1. Why will Macy’s close about 100 stores?A) Because the department store chain is gradually decreasing.B) Because its sales and profits have dropped by a large margin. C) Because its investors tend to send its stock prices higher.D) Because it is seeking a new alternative to physical stores.2. What plan has the company announced?A) It will convince the investors to spend more money.B) It will set up more retail stores online for more traffic.C) It will make strategic changes for future development. D) It will host in-store events to increase total annual sales.3. What does the underlined word “wane” mean? (Para.3)A) Increase.B) Decline. C) Disappear.D) Appear.4. What is Neil Saunders’ attitude towards Macy’s 100 closures?A) Supportive. B) Opposed.C) Neutral.D) Suspicious.5. What does S&P Global Market Intelligence say about Macy’s?A) Its annual sales fell to 11 million due to 100 closures.B) Its sales were more than that projected by professional analysts. C) Its 100 closures make its net earnings and stock prices down.D) Its net income is more than that of the same quarter last year.

Faced with sliding sales and profits, Macy’s will close about 100 stores next year as the department store chain continues to shrink in the face of online competition and shoppers seeking new alternatives.

The company announced a series of strategic changes Thursday aimed at setting up the retailer for more sustained growth in the future. The plan includes bringing in more brand shops within the stores, improving online search and ordering and hosting in-store events to drive traffic.

The 100 closures, about 15% of Macy’s 675 full-line locations, are only the latest round of closures Macy’s has undertaken in recent years to cast off its lowest-producing stores when profitability has waned  . Macy’s hasn’t announced which locations will close, but said they represent about 39.81 a share, up 11 million, down from 5.9 billion, beating analyst expectations for sales of 5.8 billion, according to S&P Global Market Intelligence. Sales at stores open at least a year fell 2%.

The company also beat earnings estimates for 48 cents a share—excluding certain one-time costs, it earned 54 cents a share. Investors seemed pleased with the financial performance and plans to become a leaner business.

1. Why will Macy’s close about 100 stores?

A)  Because the department store chain is gradually decreasing.
B)  Because its sales and profits have dropped by a large margin.
C)  Because its investors tend to send its stock prices higher.
D)  Because it is seeking a new alternative to physical stores.

2. What plan has the company announced?

A)  It will convince the investors to spend more money.
B)  It will set up more retail stores online for more traffic.
C)  It will make strategic changes for future development.
D)  It will host in-store events to increase total annual sales.

3. What does the underlined word “wane” mean? (Para.3)

A)  Increase.

B)  Decline.

C)  Disappear.

D)  Appear.

4. What is Neil Saunders’ attitude towards Macy’s 100 closures?

A)  Supportive.

B)  Opposed.

C)  Neutral.

D)  Suspicious.

5. What does S&P Global Market Intelligence say about Macy’s?

A)  Its annual sales fell to 11 million due to 100 closures.
B)  Its sales were more than that projected by professional analysts.
C)  Its 100 closures make its net earnings and stock prices down.
D)  Its net income is more than that of the same quarter last year.