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...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....
...Macy’s is to close 20 per cent of its locations by the end of 2026, as the US department store chain implements a turnaround plan just a month after rejecting a $5.8bn takeover bid....
...Meanwhile, the storied US department store operator — whose name was once synonymous with retail magic — continues to lose relevance among shoppers....
...Macy’s shares surged 15.7 per cent in pre-market trading on Monday after activist investors seeking to take over the department store chain raised their offer after their initial bid was rejected....
...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....
...Macy’s shares surged 11.2 per cent in pre-market trading on Thursday after the department store beat expectations and adjusted its full-year profit outlook....
...There used to be a Santa Express Lane at Macy’s department store on 34th Street in Manhattan....
...Late last year, it lost an antitrust case brought by Epic Games against its Android app store....
...US department store operator Macy’s warned it would take a “cautious approach” towards consumers as it said steep discounts to clear inventory weighed on its second-quarter results....
...Share moves to note on the New York Stock Exchange include Macy’s, Cigna, and Tesla: Macy’s surged 20 per cent following reports the department store operator was the subject of a potential $5.8bn buyout...
...“My intuition, based on Trump’s continued expressions of suspicion about the big tech information sector, is that he would likely turn to his justice department and say: ‘Carry on,’” he said....
...The US Department of Justice has also been probing the company over possible antitrust violations for years. Apple did not immediately respond to a request for comment....
...The US justice department’s landmark case against Apple is an important attempt, but it faces an uphill battle....
...The US Department of Justice brought an antitrust lawsuit against the tech group in March....
...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...
...Apple changed its policy that prohibited game streaming apps on its App Store earlier this year....
...Joe Biden’s re-election campaign has started using the video streaming service to try to connect with young voters, even though the White House previously backed a bill that would have given the commerce department...
...Meanwhile, Macy’s, the US department store chain, reported strong results on Thursday. Its shares closed up 5.7 per cent in New York....
...Multibrand retail will take a hit The end of 2023 has been an especially difficult period for department stores, independent boutiques and other multibrand retailers, with many of them struggling under...
...The agency further argues that there is a specific labour market for handbag store workers that will soften....
...The Fortnite game maker says Apple has violated a judge’s order to allow app developers to steer customers to transaction platforms outside of the app store....
...Macy’s shares plunged 9.35 per cent in pre-market trading on Thursday, after the US department store group cut its full-year guidance and warned of weak discretionary spending....
...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....
...The Department of Justice’s antitrust division is also suing Google, arguing it struck illegal deals to make its search the default on devices and browsers....
...The US Department of Justice last week announced it was suing Apple for allegedly using its power in the smartphone sector to squash competition....
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