Jan 5 Macy's Inc
* Macy's, Inc. announces actions to streamline store portfolio, intensify cost efficiency efforts and execute real estate strategy
* Macy's Inc - closure of 68 stores and reorganization of field structure
* Macy's Inc - actions announced are estimated to generate annual expense savings of approximately $550 million, beginning in 2017
* Macy's Inc - savings, combined with savings from initiatives implemented in early 2016, exceed $500 million goal communicated in fall of 2015
* Macy's- about $250 million of charges or 50 cents per share (of which about $210 million is expected to be cash) are expected to be recorded in q4 of 2016
* Macy's- charges are in addition to $249 million recorded in q2 as estimate of asset impairment and other charges primarily related to 2016 store closings
* Macy's Inc - "we continue to experience declining traffic in our stores where majority of our business is still transacted"
* Macy's Inc - "we expect our 2017 change in comparable sales to be relatively consistent with our november/december sales trend" Source text for Eikon: Further company coverage:
UPDATE 1-UK Stocks-Factors to watch on June 29
June 29 Britain's FTSE 100 index is seen opening up 37 points at 7,424 on Thursday, according to financial bookmakers, with futures up 0.52 percent ahead of the cash market open.