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...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....
...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....
...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....
...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....
...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...
...There is no medical school in this country that has fully incorporated AI.”...
...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...
...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....
...I used to live in New York so take an interest in Macy’s, the department store. For some time it has traded more on its storied history than its retail prowess....
...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 group that owns Selfridges and a handful of other upmarket department stores has recorded a £124mn loss since it was set up just over a year ago....
...Last summer, department store staff at Seibu went on strike for the first time in more than 60 years....
...Spring has worked for Bloomingdale's for 36 years and served as chair and chief executive of the luxury department store that is owned by Macy’s....
...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...
...To serve a company on the entity list, a supplier must apply for a licence from the commerce department for each product....
...Meanwhile, Macy’s, the US department store chain, reported strong results on Thursday. Its shares closed up 5.7 per cent in New York....
...Consumer companies: Do-it-yourself hardware retailer Lowe’s and department store Macy’s will report results, with investors keen for more commentary on the state of US consumer sentiment....
...Macy’s shares were up more than 10 per cent in lunchtime trading after the US department store group forecast earnings above Wall Street estimates and pledged to be “measured” in its promotions and inventory...
...“Whiteley’s was all about community and service and feeling cherished,” says Tessa Boase, author of London’s Lost Department Stores: A Vanished World of Dazzle and Dreams....
...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...
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