Hints and tips:
...Suitors who are knocking at Macy’s doors have little interest in fixing its retail business. They just want to get their hands on its vast real estate holdings. Macy’s owns hundreds of its stores....
...And the maths do work out, CreditSights’ retail analysts write, partly because Macys’ leverage of 2.3x ebitda (including leases)....
...That’s why some retail analysts were curious about the Macy’s and DSW announcements....
...But Macy’s, Foot Locker and Nordstrom are trickier....
...Wyndham Hotels & Resorts, the company behind La Quinta and Howard Johnson, reported a one-third increase in net income, despite lower revenue....
...Witnessing the old ledgers seemingly at random, letting the history and glamour just spill out, I felt like Howard Carter (or do I mean Howard Cartier?)...
...‘Perfect scenario’ Those look like V-shaped projections, Andrew Glenn thought to himself....
...Even so, three of Simon’s top occupants have filed for Chapter 11 bankruptcy, while its largest, Macy’s, faces widespread store closures....
...Meanwhile, mid-market department stores such as JCPenney and Macy’s have lost ground to the likes of Amazon and fast-fashion brands such as H&M. More importantly, can they survive?...
...The department store chain, which owns the more upmarket Bloomingdale’s as well as the Macy’s brand, had been holding up better than struggling peers, including JCPenney, and had managed to eke out seven...
...Howard Davies: I expect little or no change....
...Through a sovereign wealth fund, Doha is one of BPY’s biggest investors, holding $1.8bn worth of BPY preferred equity....
..., a fund he co-founded alongside Alan Howard and three others....
...Hot Hand funds are relatively concentrated, holding just 45 companies on average, it says....
...Quantitative-based investment funds, including Renaissance Technologies and Two Sigma, have increased their holdings in Macy’s this year....
...Macy’s has been working to lower costs through job cuts and reductions in store space, while getting more value out of its real estate holdings....
...Macy’s has spent the past few years trying to overhaul its US jewellery business, and has made some progress....
...Both Mr Steers and Mr Cohen were under the direction of Howard Marks, who went on to found Oaktree Capital....
...It was a trick used extensively by companies such as Tyco and Worldcom, described here in Howard Schillit's book, Financial Shenanigans: Think of it this way: cash spent to purchase inventory and other costs...
...“This is likely the season where we all move past talking about retail in trouble,” said Greg Portell, partner at AT Kearney. “Retail as a sector is healthy and vibrant....
...Macy’s shares slid 5.6 per cent to $20.1.Kohl’s shares fell 5 per cent to $42.31Sears shares declined 5.5 per cent to $.573Shares in Nordstrom slid 2.5 per cent to $41.16Dillard’s shares fell 4.7 per cent...
...US retail sales, excluding automobiles, climbed 4.9 per cent between November 1 and Christmas Eve, the strongest pace of growth since 2011, according to MasterCard SpendingPulse, a unit of the credit card...
...’s and Sears Holdings....
...In the middle, the company has further debt at intermediate holding companies — such as “Altice Luxembourg”, an entity that sits above the company’s French and international businesses and has €6.2bn of...
...In retail, that means cutting prices. Macy’s boss Jeff Gennette said: “We expect the fourth quarter to be very promotional....
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