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Macy's To Close 40 Stores, Including One In Sacramento

  

(AP) - Macy's is cutting up to 4,800 jobs after disappointing holiday sales.

The Cincinnati-based department store chain says sales fell 5.2 percent in November and December at existing stores. Warm weather and lower spending by international tourists hurt sales.

The company also listed Wednesday which 40 stores it would close. Among the list is the Macy's store in Sacramento's Country Club Plaza.

The company previously announced it was closing stores in September.

Macy's said Wednesday that it now expects its profit for its fiscal fourth quarter and full year, which run through January, to fall short of its previous estimate.

It sees fourth-quarter earnings per share at $2.18 to $2.23, compared with the average analyst estimate of $2.56 per share.