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...That compares with Macy’s market valuation of $5.3bn. Arkhouse has not revealed its plans for Macy’s. Past activists wanted to sell real estate and lease it back....
...The biggest of these — Macy’s, Nordstrom and Kohl’s — do not own their credit card portfolios....
...He argues that a $21-per-share price overvalues Macy’s properties....
...We live in a transactional world, as Macy’s knows....
...Meanwhile, Macy’s, the US department store chain, reported strong results on Thursday. Its shares closed up 5.7 per cent in New York....
...Like BJ’s, Macy’s serves a wide range of households, but it noted that even high-end products were seeing weaker demand, too: “There’s no doubt that there’s a normalisation happening in the luxury sector...
...Even digital sales, one of the few bright spots for Macy’s, fell as a percentage of net sales. The outlook for 2023 is not much better....
...That’s why some retail analysts were curious about the Macy’s and DSW announcements....
...Macy’s on Tuesday said it would take “a cautious view on the consumer and their capacity to spend on the discretionary categories we sell” and reported it had offered large discounts to clear inventory....
...But Macy’s, Foot Locker and Nordstrom are trickier....
...That has allowed Macy’s to sell more products at full price. The ability of Macy’s to pass on higher prices is reflected in its gross margins....
...Amazon, Google, Best Buy, Uber, LinkedIn, Macy’s and eBay are among those that beat a retreat. Tesla is far too invested in China to have the option of following its compatriots by pulling out....
...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....
...Macy’s and Walmart have said they plan to hire thousands fewer holiday workers than they did last year....
...Now Macy’s is looking to do the same....
...Chains from Walmart to Macy’s have lamented similar inventory overstocking, with Target announcing on June 7 that it would mark down prices and cancel orders in order to clear out excess inventories....
...Retailer Macy’s on Tuesday joined Home Depot in flagging challenges related to inflation, supply chain constraints and labour shortages as it forecast full-year adjusted earnings in the range of $4.13 to...
...Bed Bath & Beyond, Macy’s and Gap have admitted to similar inventory troubles in recent months....
...Macy’s stores “continue to show signs of recovery earlier than expected”, chief executive Jeff Gennette said....
...Macy’s reported a 17 per cent slide. With $10.5bn in cash on hand, TJX is well placed to take advantage of struggling retailers and snap up unsold inventory on the cheap....
...Take Macy’s, the beleaguered department store chain....
...Macy’s has responded by cutting jobs and permanently closing stores....
...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...
...Macy’s was “leaning harder into luxury” as a result, she added....
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