Macy's Stock Sinks as It Warns Underperforming Stores

4 days ago · Macy's expects comparable store sales to be about flat quarter-to-date, as its non-First 50 stores were "performing below expectations and generating negative comparable …

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Macy's To Close 150 Stores, Or About 30% Of Its Locations - Yahoo …

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Macy's on Tuesday said it plans to close roughly 150 underperforming stores over the next three years, the struggling retailer's latest effort to energize its business as it seeks to fend off a ...

yahoo.com

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Macy's Stock Tumbles On Lower Sales, Resolved Accounting Probe

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Dec 11, 2024 · Macy's net income of $28 million, or 10 cents per share, outpaced the $6.4 million and 3 cents per share analysts had expected, but the company's adjusted earnings per share …

investopedia.com

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Macy's To Close 150 Stores, Or About 30% Of Its Locations

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Feb 27, 2024 · Macy's on Tuesday said it plans to close roughly 150 underperforming stores over the next three years, the struggling retailer's latest effort to energize its business as it seeks to …

cbsnews.com

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Macy’s Is In Deep Trouble. It Could Be Sitting On A Gold Mine

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Dec 10, 2024 · The investors claim that Macy’s real estate, including its flagship store at Herald Square in New York City, is worth up to $9 billion on the open market, nearly double Macy’s …

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Macy’s Is In Deep Trouble. It Could Be Sitting On A Goldmine - MSN

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The investors claim that Macy’s real estate, including its flagship store at Herald Square in New York City, is worth up to $9 billion on the open market, nearly double Macy’s closing market ...

msn.com

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Macy's CEO Addresses 150 Closures As Boss Admits Stores 'should …

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2 days ago · Macy’s has faced disappointing company results, with sales falling 2.4% year on year to $4.7bn in its most recent quarter. The National Retail Federation is an annual …

the-sun.com

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Macy’s Stock In Focus After Rejecting $5.8 Billion ... - Investopedia

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Jan 22, 2024 · Macy’s stock has gained more than 60% over the past two months but is down 11% since the start of the year. The stock was up 4,1% at $18.36 in thin premarket trading at …

investopedia.com

FAQs about Macy's Stock Sinks as It Warns Underperforming Stores Coupon?

Why is Macy's closing 150 underperforming stores?

The world's largest cryptocurrency is now within striking distance of its all-time high as investors turn increasingly bullish on bitcoin. Under pressure from investors, Macy's is closing 150 underperforming stores as it leans into its Bloomingdale's and Bluemercury brands. ...

Why is Macy's closing 150 stores?

Macy's is closing 150 stores as part of a strategy to fend off activist investors and boost the company’s stock price and sales. The department store sector, including Macy's, has been struggling with the rise of Amazon, the growing strength of discount chains like TJ Maxx, and online brands. ...

What's wrong with Macy's?

The problems facing Macy's are "similar to what I first encountered at Bloomingdales — it's going back to basics and balancing the art and science of retail," Spring said in a Tuesday conference call with investors. The stores that will be closed represent about a quarter of Macy's square footage but account for about 10% of sales. ...

What happened to Macy's?

In March, the investors upped its offer to $24 a share, and Macy’s agreed to enter into talks about the bid. Now, it’s calling off talks. Macy’s will instead stick with its own strategy, led by new CEO Tony Spring, which includes closing underperforming Macy’s stores and investing in its luxury Bloomingdale’s and Bluemercury chains. ...

Why did Macy's close 66 stores?

"However, Macy's noted that some of its lower-volume stores (in the First 50) were having the biggest increases in sales," he added. Macy's announces closure of 66 stores as part of strategy to focus resources on profitable locations. ...

What is the value of Macy's after the store closures?

Macy's shares rose 5.7% in morning trade to $20.40, valuing the company at $5.6 billion. By closing 150 stores over the next three years, Macy's expects to book asset sale gains of as much as $350 million, Spring said on the call. ...