Department store giant Macy's Inc. said Tuesday that it is shutting five underperforming stores. Final clearance sales at stores in Boise, Idaho; Waterford, Mich.; St. Ann, Mo.; Missoula, Mont.; and Burlington, N.J., will begin Sunday and run for about two months, the company said. The closures will leave Macy's with 809 namesake locations and 40 Bloomingdale's stores.
Apple buys mobile-advertising firm Quattro Apple Inc. acquired mobile-advertising company Quattro Wireless in a move that heightens its competition with Google Inc. Quattro, which places ads on mobile websites and applications, announced the deal with Apple on its website Tuesday. The value of the acquisition wasn't immediately clear.
2 HDTV firms to make Skype-enabled sets Skype says its voice and video calling technology will be embedded in upcoming high-definition televisions with Internet capabilities. Skype's Internet phone service will be included in Panasonic's 2010 VIERA CAST-enabled HDTVs and LG's new LCD and plasma HDTVs with NetCast Entertainment Access. The televisions are expected to be available in the middle of the year.
Women's clothing wasn't a holiday hit Holiday shoppers bought a little more jewelry, electronics and boots but passed by the women's clothing racks, according to figures released Wednesday. The latest figures from MasterCard Advisors' SpendingPulse also offered confirmation that shoppers were deliberate in their spending. The data service tracks all forms of payment, including cash.
Army orders 725 Oshkosh supply trucks The U.S. Army has ordered more than 725 supply trucks from the defense arm of Oshkosh Corp. in a deal worth $290 million. Oshkosh Defense of Oshkosh, Wis., said Tuesday that it expects to complete production by September 2011. The vehicles are heavy-duty military trucks with large trailers. They've been used to transport weapons and other supplies to the front lines in Afghanistan and Iraq, and are designed so a single soldier can load or unload large containers in five minutes.
Mesa Air files for bankruptcy Mesa Air Group Inc. filed for Chapter 11 bankruptcy in order to eliminate excess aircraft and reach a faster resolution in its lawsuit against Delta Air Lines, the airline said Tuesday. Mesa stock fell nearly 54 percent Tuesday to 6 cents a share. The stock has been trading at bankruptcy levels since early 2008 when record-high oil prices helped to wipe out profits. The Phoenix-based carrier said it had ample liquidity to support itself during the restructuring, which it expects to take half a year.
Cable networks jump on the 3-D bandwagon Walt Disney Co.'s ESPN and Discovery Communications Inc. plan to start 3-D television networks, following the success of 3-D films such as "Avatar." ESPN 3-D will start in June and broadcast 85 live events in the first year, the sports network announced Tuesday. Discovery, Sony Corp. and Imax Corp. announced a joint venture Tuesday to introduce a 3-D channel in 2011.
U.S. judge blocks 2 tobacco ad restrictions A U.S. district judge in Kentucky has overturned two of the marketing restrictions in the new federal tobacco law, including a ban on color and graphics in most tobacco advertising. Several tobacco makers sued in August to block the restrictions, and U.S. District Judge Joseph McKinley Jr. agreed that two of them violated tobacco companies' free speech rights.
