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...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....
...The biggest of these — Macy’s, Nordstrom and Kohl’s — do not own their credit card portfolios....
...And the maths do work out, CreditSights’ retail analysts write, partly because Macys’ leverage of 2.3x ebitda (including leases)....
...We live in a transactional world, as Macy’s knows....
...Will Lina Khan be left holding the bag? On Monday, the US Federal Trade Commission sued to block Tapestry’s $8.5bn acquisition of rival Capri Holdings. The pair are best known for their handbag brands....
...But while retail spending on sportswear is back above pre-Covid levels — at $395.5bn globally last year, according to Euromonitor — share valuations have yet to catch up....
...MainFT, last night: The Federal Trade Commission has sued to block US luxury goods group Tapestry’s $8.5bn acquisition of Capri Holdings, a move that threatens a bid to create a US rival to European giants...
...Indeed, Walmart’s comments about demand are consistent with the longer term trends in retail sales we see in the government data: a gentle slowdown with quite a lot of variety among different retail categories...
...The Federal Trade Commission has sued to block US luxury goods group Tapestry’s $8.5bn acquisition of Capri Holdings, a move that threatens a bid to create a US rival to European giants LVMH and Kering....
Carriers have come to rely on check-in charges as a source of revenue but face new disclosure rules
...I said this to the staff of the SEC and to Gensler, which is you think that Schwab, Fidelity, Vanguard, Morgan Stanley, E-TRADE, they need to be told where to send their retail orders, like they don’t have...
...Shein has gone from near zero to holding nearly a fifth of the global fast-fashion market, including the largest share in the US in less than four years....
...That’s why some retail analysts were curious about the Macy’s and DSW announcements....
...Data on Wednesday showed underlying US retail sales rose 0.2 per cent in October, while September’s increase was revised higher....
...Clive Black, a retail analyst at Shore Capital, said: “Should CD&R sell MFG, which it has owned for some years, that equity holding of Morrisons could be quite relevant.”...
Private equity-backed car rental group is struggling as US drivers shun electric vehicles
...Institutions, on behalf of retail investors, have turned yen sellers to acquire the underlying dollar assets....
...Experience-based spending — particularly travel — is holding up....
Also in today’s newsletter: Taylor Swift’s place in football, golf’s changing of the guard, and more
...chief Eddie Wu has strengthened his grip on the sprawling tech conglomerate, reshuffling management once again to take direct charge of its core ecommerce business as it loses market share to rivals PDD Holdings...
...Lower prices put shares in the hands of more retail investors, and are especially helpful for those trading options....
...Debt the halls Shareholders of US retailer Macy’s could make a decent return in a leveraged buyout this holiday season....
Group has failed to produce profit and sales growth after more than a decade
...Macy’s shares, down 15 per cent over the past year, trade on a forward price/earnings ratio of just six times. That is a substantial discount to the S&P 500 retail index....
Plus, Carlyle co-founder gets into baseball, football’s transfer market tanks
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