Macy's is a leading retail company that operates a chain of department stores across the United States, offering a wide variety of products including clothing, accessories, home goods, and beauty products
The company is known for its extensive selection of both national and private label brands, catering to diverse customer preferences. Macy's emphasizes customer experience through in-store shopping, online retail services, and various promotional events. With a legacy of innovation in retailing, it also engages in various community and cultural initiatives, further enhancing its brand presence and commitment to social responsibility.
Shares of department store chain Macy’s (NYSEM)
fell 7.3% in the afternoon session after the company disclosed disappointing preliminary fourth-quarter results, projecting sales to fall just below the lower end of its earlier forecast of $7.8 billion to $8.0 billion. Notably, same-store sales are expected to remain flat compared to the previous year. In addition, earnings are expected to remain within the previous range of $1.40 to $1.65. Overall, the results were underwhelming, given the some high expectations for holiday season spending. However, Macy's wasn't the only one to report weak holiday demand, as Five Below and Abercrombie & Fitch also didn't see the success that the market expected.
Macy's updates its fiscal Q4 guidance, revealing strong growth in its First 50 stores and luxury segments, while non-First 50 locations underperformed. The company sees net sales near the lower end of $7.8 billion to $8.0 billion.
Macy's revealed plans to close 66 stores as part of its "Bold New Chapter" strategy. The company aims to eliminate underperforming locations and focus on its successful stores.
Macy's Inc. (NYSEM) today confirmed the closure of 66 Macy’s non-go-forward store locations. These closures are a part of the Bold New Chapter strategy, which was announced in February 2024. This plan is designed to return the company to sustainable, profitable sales growth which includes closing approximately 150 underproductive stores over a three-year period while investing in its 350 go-forward Macy’s locations through fiscal 2026. The list of 66 closing Macy’s locations can be found here.
Macy’s, Inc. (NYSEM) Tony Spring, chairman and chief executive officer, Adrian Mitchell, chief operating officer and chief financial officer, and Nata Dvir, Macy’s chief merchandising officer, will be participating in the 2025 ICR Conference in Orlando, FL. The company is scheduled to participate in a fireside chat at 8 a.m. ET on Tuesday, January 14, 2025.
Macy’s, Inc. (NYSEM) today announced the appointment of a new independent director, Robert Chavez, to its Board of Directors (the “Board”), effective April 1, 2025.
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Macy’s, Inc. (the “Company”) (NYSEM).
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LOS ANGELES, CA / ACCESSWIRE / December 16, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Macy's, Inc. ("Macy's" or "the Company") (NYSEM) for violations of the securities laws.
Holiday cheer now seems to be everywhere, and people appear to be buying into it -- by literally swiping their credit cards right and left. So, now is the optimal time to look into Kohl’s Corp.
LOS ANGELES, CA / ACCESSWIRE / December 15, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Macy's, Inc. ("Macy's" or "the Company") (NYSEM) for violations of the securities laws.
LOS ANGELES, CA / ACCESSWIRE / December 14, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Macy's, Inc. ("Macy's" or "the Company") (NYSEM) for violations of the securities laws.
LOS ANGELES, CA / ACCESSWIRE / December 13, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Macy's, Inc. ("Macy's" or "the Company") (NYSEM) for violations of the securities laws.
LOS ANGELES, CA / ACCESSWIRE / December 12, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Macy's, Inc. ("Macy's" or "the Company") (NYSEM) for violations of the securities laws.
