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Investors Waking up to Retail Wreck After Holiday Sales

Macy's says it will close 68 stores, part of the 100 already announced.
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Macy's (M) - Get Macy's Inc Report  says it will close 68 stores, part of the 100 already announced. The store closings are across the nation and 10,000 jobs will be affected. Macy's CEO Terry Lundgren said he is pleased with double-digit gains online and will use the money saved shuttering the stores on e-commerce. Kohl's (KSS) - Get Kohl's Corporation Report  also warned its earnings per share guidance won't be as expected. The U.S. Labor Department is trying to ban Alphabet's (GOOG) - Get Alphabet Inc. Class C Report  Google from doing business with the federal government unless it turns over confidential information about thousands of its employees. The lawsuit alleges Google has repeatedly refused to provide the department with employee compensation records and other information to ensure the company isn't discriminating against workers based on gender or race. The Consumer Electronics Show kicks off today in Las Vegas. Robots, self-driving cars and even "smart" belt buckles will be featured.

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