Macy's store closures: Ripple effect on retail brands? - Yahoo Finance

Mar 11, 2024 · JPMorgan raises its price target for Macy's (M) from $23 to $25 but maintains the retailer's Overweight rating. The analyst behind the call cites Macy's attempts to reposition …

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Macy's Store Closures: Ripple Effect On Retail Brands? - Yahoo Finance

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Mar 11, 2024 · JPMorgan raises its price target for Macy's (M) from $23 to $25 but maintains the retailer's Overweight rating. The analyst behind the call cites Macy's attempts to reposition …

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

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1 day 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 conference …

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FAQs about Macy's store closures: Ripple effect on retail brands? - Yahoo Finance Coupon?

How many Macy's stores are closing?

Macy's released a list of 66 of the stores it is closing, with locations including Arizona, California, Florida and New York. The retailer plans to close about 150 in its revitalization plan. Macy's has named 66 of the 150 stores that it's planning to close as part of its revitalization plan. ...

Will Macy's closures affect Washington shoppers?

Macy's plans to close more stores than announced earlier this year could affect Washington shoppers. According to the company's third-quarter earnings report, the department store chain plans to close approximately 15 more locations after the holiday season, an increase from the previously announced 50 closures. ...

Why is Macy's closing 66 stores?

Macy's is closing 66 stores as part of a comprehensive strategy to revive its business. Overall, Macy’s said it plans to close approximately 150 "underproductive stores" through 2026. Meanwhile, it will invest in 350 existing stores, as well as its luxury brands Bloomingdale’s and Bluemercury. ...

Why is Macy's closing 150 locations?

The closures are part of the struggling retailer’s “Bold New Chapter” plan to shutter 150 locations through 2026. Spring said that the initiative “gets us even closer to . . . becoming a more profitable Macy’s, Inc.” Macy’s reported comp sales rose 3.2%, driven by women’s advanced contemporary apparel. ...

Is Macy's closing a store 'underproductive'?

Macy’s CEO Tony Spring said in a press release that closing “any store is never easy,” but the locations chosen are “underproductive” for its so-called Bold New Chapter strategy, which includes a shift to chasing wealthier shoppers with its higher-end brands including Bloomingdale’s and Bluemercury. ...

Will Macy's reposition itself for a turnaround?

The analyst behind the call cites Macy's attempts to reposition itself for a turnaround, including better margins and sales growth. Yahoo Finance Retail Reporter Brooke DiPalma joins Yahoo Finance to break down the latest developments for Macy's amid its announcement of 150 store closures. ...