Hints and tips:
...But it is department stores, rather than lenders, that may have most to lose as the credit cycle sours. The biggest of these — Macy’s, Nordstrom and Kohl’s — do not own their credit card portfolios....
...Meanwhile, the storied US department store operator — whose name was once synonymous with retail magic — continues to lose relevance among shoppers....
...Macy’s has travelled a rough road for nine years or so, to put it gently, as department stores got shouldered out of shoppers’ budgets by Amazon and fast-fashion giants....
...There used to be a Santa Express Lane at Macy’s department store on 34th Street in Manhattan....
...resumption of student loan repayments, increased credit card debt and reduced savings rates, have left them with less discretionary income, forcing them to make trade-offs in their family budgets Similarly, department-store...
...Meanwhile, Macy’s, the US department store chain, reported strong results on Thursday. Its shares closed up 5.7 per cent in New York....
...Investors were in an ebullient mood on Thursday after Macy’s delivered better than expected results. They should not give the US department store operator too much credit. The bar was low....
...Beth Goldstein, a footwear industry analyst at Circana, told Scoreboard that in the US, family footwear retailers (like DSW) and major department stores (like Macy’s) have been losing market share for several...
...But Macy’s, Foot Locker and Nordstrom are trickier....
...Macy’s, the rival department store group, also said on Tuesday that a “competitive promotional climate” was intensifying as discretionary spending weakened. “Inflation is outpacing wage growth....
...The US department store operator, which also owns Bloomingdale’s, said formal wear is back in demand. Shoppers have been “revenge spending” as a reaction against the miseries of the pandemic....
...First, Hudson’s Bay Company (HBC), the owner of Saks Fifth Avenue, said it would split the luxury department store’s website into a separate business. Now Macy’s is looking to do the same....
...The New York-based department store chain rejected calls from activist investor Jana Partners to spin off its ecommerce business, as it reported a 12 per cent year-on-year rise in its digital sales during...
...This included its cut from App Store purchases, which came under fire again on Thursday....
...Department store Macy’s also raised its annual guidance, saying sales trends improved throughout the first quarter as the economic recovery gained steam....
...Take Macy’s, the beleaguered department store chain....
...Macy’s is to take a stake in Swedish buy-now pay-later group Klarna as part of a partnership under which the US department store chain will offer its customers the possibility to split up online purchases...
...Sales at the venerable US department store chain collapsed by more than a third during the second quarter....
...The department store chain said it expected like-for-like sales to be down at least 20 per cent year on year for the remainder of 2020 after a 35 per cent drop in the three months to August 1....
...Overall sales at clothing and department stores slid about 12 per cent year-on-year in October....
...The pageantry in late November New York kicks off the Christmas shopping season and is effectively a soft advertisement for the venerable department store chain....
...US department store chain Macy’s will cut about 3,900 jobs as part of a restructuring to help it cope with the effect of store closures during the pandemic....
...Macy’s is turning to its real estate portfolio to raise cash in the coronavirus crisis, pledging several of its department stores and other properties as collateral in a $1.1bn bond deal....
...All three are angry with Apple over its restrictions on them in the App Store....
...The department store group Macy’s also said it was furloughing most of its 125,000-strong workforce....
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