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Hold off on that funeral dirge for Macy's. The department store isn't dead yet.Macy's topped Wall Street's profit forecasts Tuesday and provided a healthy outlook for this year.The results strongly suggest there is still room for traditional stores in the mall in a world increasingly dominated by the likes of Amazon and Walmart.Macy's chairman and CEO Jeff Gennette said the company was "encouraged" by improvement at the company's brick-and-mortar stores and continued growth in online sales.Gennette said digital revenue posted a double-digit percentage increase for the 34th quarter in a row, a run of more than eight years.And the company is still investing heavily in its Bluemercury chain of specialty beauty stores and the discount outlet Backstage. Macy's said it opened 36 Bluemercury stores and 30 Backstage stores last year, even as it closed 16 Macy's stores.Gennette added during a conference call with analysts that Macy's plans to open 100 more Backstage locations this year, including in malls.Macy's is also selling real estate to shore up its balance sheet. The company said it raised 1 million last year and .3 billion over the past three years by getting rid of some stores, warehouses and parking garages.Macy's is also working with real estate company Brookfield Asset Management on other transactions.Macy's said Tuesday it is selling several floors in its State Street store in Chicago to a real estate fund backed by Brookfield for million. Brookfield plans to convert the floors into office space.All this is good news for Macy's. But one analyst said Macy's needs to do more before its turnaround qualifies as a true Miracle on 34th Street."There is a long tail of shops that look dated, are in sub-optimal locations, and where the customer experience is poor. Macy's must remedy this if it is to transform the business," Neil Saunders, managing director of GlobalData Retail, said in a report.Nonetheless, the real estate transactions and improved sales outlook are two reasons Wall Street has fallen in love with Macy's again.The stock surged nearly 12% in early trading before pulling back a bit. Macy's has soared more than 45% in the past six months.Department store chains Kohl's, Nordstrom and JCPenney — which will all report results later this week — rallied as well Tuesday. Another chain, Dillard's, rose 12% too after it also posted strong quarterly results.Investors are clearly betting that Macy's wasn't the only traditional retailer that had a happy holiday season. 2527
Here's what's making headlines in the political world Saturday, May 5, 2018.NYT: Trump knew about Stormy Daniels payment before denial-- President Trump knew about a 0,000 payment to adult film actress Stephanie Clifford, whose stage name is Stormy Daniels, before denying any knowledge of the payment last month, according to a New York Times report.Michael Cohen, the president's personal lawyer, made the payment in October 2016 just before the president won the 2016 election. President Trump has denied knowing anything about the payment to keep the alleged affair between him and Clifford under wraps.Last month, while aboard Air Force One, President Trump told reporters he knew nothing about the payment. This week, however, new Trump team lawyer Rudy Giuliani said the president had reimbursed Cohen for the payment.The president has continued to deny knowledge of the payment.Read more.Trump reassures NRA: "We will protect your Second Amendment"-- President Trump reassured a packed house at an annual meeting of National Rifle Association members, "your Second Amendment rights are under siege, but they will never ever be under siege as long as I am your president."Just returned home to the beautiful White House, from Dallas, where the Arena was packed to the rafters with the great fans and supporters of the @NRA. It was so wonderful to be there!— Donald J. Trump (@realDonaldTrump) May 5, 2018 1442

Good Samaritans and authorities rescued a couple in their 70s whose vehicle crashed into a Long Island canal following a collision with another vehicle Monday.Police say it happened when a Ford pickup truck and a Subaru were involved in a motor vehicle crash at Venetian Promenade and Montauk Highway in Suffolk County, New York. When the Subaru backed up following the crash, police say it collided with a Mercury.The Mercury crashed through a fence and fell into a canal.Video shows the moment the car was partially submerged in the water.Five good Samaritans and two Suffolk County police officers jumped into the water to rescue the couple.Joseph Abitabile, 78, was driving the Mercury. He was rescued from the vehicle, along with his wife, Delores, 76, who was unconscious.An off-duty Lake Success police officer administered CPR, restoring the woman's pulse and breathing back to normal.The Abitabiles, one good Samaritan, the two Suffolk County officers and the driver of the Subaru were taken to a local hospital for treatment of non-life threatening injuries. The driver of the Ford was not injured.This story was originally published by Corey Crockett at WPIX. 1178
Gregory Minott came to the U.S. from his native Jamaica more than two decades ago on a student visa and was able to carve out a career in architecture thanks to temporary work visas.Now a U.S. citizen and co-founder of a real estate development firm in Boston, the 43-year-old worries that new restrictions on student and work visas expected to be announced as early as this week will prevent others from following a similar path to the American dream.“Innovation thrives when there is cultural, economic and racial diversity,” Minott said. “To not have peers from other countries collaborating side by side with Americans is going to be a setback for the country. We learned from Americans, but Americans also learn from us.”Minott is among the business leaders and academic institutions large and small pleading with President Donald Trump to move cautiously as he eyes expanding the temporary visa restrictions he imposed in April.They argue that cutting off access to talented foreign workers will only further disrupt the economy and stifle innovation at a time when it’s needed most. But influential immigration hard-liners normally aligned with Trump have been calling for stronger action after his prior visa restrictions didn’t go far enough for them.Trump, who has used the coronavirus crisis to push through many of his stalled efforts to curb both legal and illegal immigration, imposed a 60-day pause on visas for foreigners seeking permanent residency on April 22. But the order included a long list of exemptions and didn’t address the hundreds of thousands of temporary work and student visas issued each year.Republican senators, including Tom Cotton of Arkansas and Ted Cruz of Texas, argue that all new guest worker visas should be suspended for at least 60 days or until unemployment has returned to normal levels.“Given the extreme lack of available jobs,” the senators wrote in a letter to Trump last month, “it defies common sense to admit additional foreign guest workers to compete for such limited employment.”Trump administration officials have been debating how long the forthcoming order should remain in place and which industries should be exempted, including those working in health care and food production.But the White House has made it clear it’s considering suspending H-1B visas for high-skilled workers; H-2B visas for seasonal workers and L-1 visas for employees transferring within a company to the U.S.In recent weeks, businesses and academic groups have also been voicing concern about possible changes to Optional Practical Training, a relatively obscure program that allows some 200,000 foreign students — mostly from China and India — to work in the country each year.Created in the 1940s, OPT authorizes international students to work for up to one year during college or after graduation. Over the last decade, the program has been extended for those studying science, technology, engineering and mathematics so that they can now work for up to three years.While congressional Republicans have been some of the strongest supporters of eliminating the program, 21 GOP House lawmakers argued in a letter to the Trump administration this month that OPT is necessary for the country to remain a destination for international students. They said foreign students and their families pump more than billion annually into the economy even though the students represent just 5.5.% of U.S. college enrollments.Companies and academic institutions also warn of a “reverse brain drain,” in which foreign students simply take their American education to benefit another nation’s economy.Some critics say OPT gives companies a financial incentive to hire foreigners over Americans because they don’t have to pay certain federal payroll taxes.The program also lacks oversight and has become a popular path for foreigners seeking to gain permanent legal status, said Jessica Vaughan, policy director at the Center for Immigration Studies, a Washington group advocating for strict immigration limits.“The government does not require that there be actual training, and no one checks on the employer or terms of employment,” she said. “Some of the participants are career ‘students,’ going back and forth between brief graduate degree programs and employment, just so they can stay here.”Xujiao Wang, a Chinese national who has been part of the program for the past year, said she doesn’t see any fault in trying to build her family’s future in the U.S.The 32-year-old, who earned her doctorate in geographic information science from Texas State University, is working as a data analyst for a software company in Milford, Massachusetts.She’s two months pregnant and living in Rhode Island with her husband, a Chinese national also working on OPT, and their 2-year-old American-born daughter. The couple hopes to eventually earn permanent residency, but any change to OPT could send them back to China and an uncertain future, Wang said.“China is developing fast, but it’s still not what our generation has come to expect in terms of freedom and choice,” she said. “So it makes us anxious. We’ve been step-by-step working towards our future in America.”In Massachusetts, dismantling OPT would jeopardize a fundamental part of the state’s economy, which has been among the hardest hit by the pandemic, said Andrew Tarsy, co-founder of the Massachusetts Business Immigration Coalition.The advocacy group sent a letter to Trump last week pleading for preservation of the program. It was signed by roughly 50 businesses and colleges, including TripAdvisor and the University of Massachusetts, as well as trade associations representing the state’s thriving life sciences industry centered around Harvard, MIT and other Boston-area institutions.“We attract the brightest people in the world to study here, and this helps transition them into our workforce,” Tarsy said. “It’s led to the founding of many, many companies and the creation of new products and services. It’s the bridge for international students.”Minott, the Boston architect, argues that the time and resources required to invest in legal foreign workers, including lawyers’ costs and visa processing fees, exceeds any tax savings firms might enjoy.DREAM Collaborative, his 22-person firm, employs three people originally hired on OPT permits who are now on H-1B visas — the same path that Minott took early in his career.“These programs enabled me to stay in this country, start a business and create a better future for my family,” said the father of two young American-born sons. “My kids are the next generation to benefit from that, and hopefully they’ll be great citizens of this country.”___Associated Press reporters Collin Binkley in Boston and Jill Colvin in Washington contributed to this story. 6805
HESPERIA, Calif. (KGTV) - Snow and ice created dangerous conditions for Southern California drivers on the ‘White Christmas’ Tuesday morning. In San Diego County, drivers spun out on icy roads in higher elevations, including Sunrise Highway on Mount Laguna.On Interstate 15, dozens of cars piled up on the northbound lanes in the high desert city of Hesperia, Victor Valley News reported. Mobile phone video showed a man yelling for people to leave the road, followed by the sounds of crashing cars. "As soon as I hit the top of the hill, it was ice, black ice. I crashed and everyone else around me was crashing too," Brian Bolik told Victor Valley News. "A car behind us went over the embankment and rolled." Bolik said he and another off-duty EMT heard a woman screaming in the pileup, VVN reported."I knew I needed to pull her out of the situation because the cars were just coming and coming, and then diesel trucks were also coming fast and she couldn't get out," stated Bolik. "She had a broken leg. At the time I didn't think about getting hit by other cars, I just wanted to help the lady to safety," Bolik told VVN. At least 10 people were taken to the hospital, CHP officials reported. 1204
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