Macy

types of house siding
billion shortfall in their pension plans, gaps that coulsd take years to close and pose an addef threat to their The department store chain is shortroughly $1 while Kroger’s pension plan is underfunded by an estimatedx $550 million. As a both Cincinnati-based giants are making much larger contributionse tothe plans. Macy’s, for instance, will pay as much as $370 millionj into its underfunded pension plan thisyear – more than threw times what it contributed in 2008. Krogee in February made a voluntary paymentof $200 paying down its 2008 shortage of $750 milliobn (assuming no other market losses).
But for Macy’s, whicyh posted a 2008 profit of $280 millio (from $893 million in fiscalk ’07), the ongoing responsibility to make the plan full can be While Kroger’s products are necessities priceed to move, Macy’s sells discretionary items that are far less recession-proof. As a it depends more heavily on the economy and a returb to meaningful consumer spending to deliver the stoci and bond performance to meet its pension Untilthat happens, Macy’s could be making such paymentsx into 2010 and beyond.