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...Macy’s, which also owns Bloomingdale’s, started 2022 on strong footing as post-coronavirus lockdown “revenge spending” lifted sales. These gains proved ephemeral....
...The retailer, which operates about 680 stores under its namesake brand and Bloomingdale’s, said the locations set to be closed accounted for $1.4bn in combined annual sales....
...Sales from overseas travellers declined about 9 per cent in the quarter, hurting Bloomingdale’s, which the company also owns....
...He added that there was “probably some latent pressure” as a result — especially at higher-end stores, including Macy’s-owned Bloomingdale’s....
...The narrower S&P 500 department store index, which includes just Macy’s, Nordstrom and Kohl’s, rose nearly 13 per cent....
...During his tenure as chief executive, Macy’s shares have fallen 4.3 per overall, compared with a doubling in the S&P 500 index....
...Macy’s said comparable sales fell 3.9 per cent from the same quarter a year ago, far below analysts’ expectations of a 0.9 per cent decline despite an easy comparison with a 1.4 per cent drop in 2014’s third...
...But with malaise hitting big rivals including Nordstrom and Bloomingdale’s, a unit of Macy’s, upmarket Neiman has struggled to balance debt payments with its other priorities....
...The S&P 500 slid 0.6 per cent to 2,067.64, the Dow Jones Industrial Average declined 0.7 per cent to 17,440.59. The Nasdaq Composite fell 1 per cent to 5,039.78....
...The S&P 500, which had its biggest rally in a month on Wednesday, rose 0.2 per cent to 2,108.86 while the Dow Jones Industrial Average gained 0.2 per cent to 18,039.37....
...Macy’s, which owns both the eponymous and Bloomingdale’s brands, said same-store sales, including its licensed divisions, fell 0.1 per cent....
...The S&P 500 ended the session flat at 2,039.82, the Dow Jones Industrial Average fell 0.1 per cent to 17,634.74 and the Nasdaq Composite rose 0.2 per cent to 4,688.54....
...Shares of Macy’s fell 2.8 per cent to $65.92 and lagged behind the S&P 500 on Friday, but are up more than 18 per cent in the past year....
...(FT) Markets Data 05:34 BST Asian markets Nikkei 225 up +94.89 (+0.47%) at 20,078 Topix up +10.87 (+0.67%) at 1,630 Hang Seng down -26.28 (-0.09%) at 28,407 US markets S&P 500: -0.41% at 2,109 DJIA down...
...(FT) Markets Data 05:32 BST Asian markets Nikkei 225 down -397.27 (-1.98%) at 19,662 Topix down -35.12 (-2.16%) at 1,592 Hang Seng down -264.05 (-0.93%) at 28,136 US markets S&P 500: -0.37% at 2,107 DJIA...
...The S&P 500 closed 0.1 per cent higher at 2,039.68, the Dow Jones Industrial Average was flat at 17,614.90. The Nasdaq Composite rose 0.2 per cent to 4,660.56....
...Macy’s, which also owns the Bloomingdale’s luxury chain, said full year same-store sales – a key measure for retailers – would likely rise between 1.5 and 2 per cent, below initial projections as high as...
...The S&P 500 gained 0.1 per cent to 2,039.33, while the Dow Jones Industrial Average advanced 0.2 per cent to 17,652.79. The Nasdaq Composite climbed 0.1 per cent to 4,680.14....
...By close the S&P 500 rose 0.3 per cent to 1,992.37, while the Dow Jones Industrial Average gained 0.4 per cent to 17,039.49. The Nasdaq Composite added 0.1 per cent to 4,532.10....
...The benchmark S&P 500 rose 0.37 per cent to 1,877.86 while the Dow Jones Industrial Average inched 0.27 per cent higher to 16,491.31....
...The moves came as the operator of the Macy’s and Bloomingdale’s chains said its wealthiest shoppers had reined in purchases during the first quarter....
...Nordstrom , the department store group, and Macy’s , which also operates Bloomingdale’s stores, reported similar weak sales results....
...P 500 down -0.83% at 1,546 Bovespa down -0.81% at 55,577 Asia Nikkei 225 down -2.35% at 12,339 Topix down -1.85% at 1,039 Hang Seng down -0.50% at 22,115 Shanghai Composite up +0.17% at 2,328 MSCI Asia...
...(Financial Times) OVERNIGHT MARKETS: DOWN Asian markets Nikkei 225 down -21.61 (-0.17%) at 12,327 Topix down -1.48 (-0.14%) at 1,039 Hang Seng down -29.44 (-0.13%) at 23,061 US markets S&P 500 up +5.04...
...largest private equity pool ever raised for the region, with its formal close expected to be announced in early 2013. http://reut.rs/UVGMVV Emerging Markets MSCI Emerging Market Index down -0.37% at 1,039...
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