NEWS
Wetzel's Pretzels opens in Brooklyn Macy's department store
2024-09-05
Wetzel's Pretzels is opening a location in one of New York City's busiest shopping destinations, Macy's Kings Plaza, according to a press release.Kings Plaza is located in the heart of Brooklyn....
Value, innovation are key to retailer growth: Goldman Sachs VP
2024-09-04
The more earnings that come out from major retail chains, the clearer the picture for US consumers and the broader retail landscape becomes. Though with discount stores reporting consumer spending pullbacks — Dollar General (DG) and Dollar Tree (DLTR) — is there more turbulence ahead for the retail space? Goldman Sachs Vice President Brooke Roach sits down with Yahoo Finance senior reporter Brooke DiPalma at Goldman Sachs' Global Retailing Conference to discuss the current landscape of the consumer, retailers, and more. "One of the things that we've seen in retail the last couple of quarters is an acceleration of the bifurcating trends in retail between market share winners, such as off-price and other specific brands that have newness and innovation, that are comping quite positively," Roach says," and a tougher trend in department stores overall, where they've seen negative comp [comparable store sales] trends, they've seen a more cautious outlook on their consumer." Roach stresses why "value" and "innovation" are key themes that pull companies ahead, specifically before the holiday season when promotions will be a driver of consumer traffic. Roach elaborates on the difference between lower and middle-income earning consumers and why certain retail stores are pulling ahead of others: "It's the middle-income consumer that's seeing a little bit lower growth this year in 2024. As we move into 2025, we actually think that that could get a little bit better across the board. But I think there's a more interesting trend behind what we're seeing between some of these retailers... The companies that are performing the best right now, that are gaining market share regardless of price point or value proposition, are doing it through innovation." Roach and DiPalma reference brands such as Nordstrom (JWN), Macy's (M), Lululemon (LULU), Amer Sports (AS), SharkNinja (SN), and TJX Companies (TJX) to underline these points. Catch more of Brooke DiPalma's coverage from the 31st Annual Goldman Sachs Global Retailing Conference. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Nicholas Jacobino
Macy’s, Inc. Announces Debt Tender Offer
2024-09-04
NEW YORK, September 04, 2024--Macy’s, Inc. (NYSE:M) today announced that its wholly owned subsidiary, Macy’s Retail Holdings, LLC (the "Company"), has commenced a cash tender offer (the "Tender Offer") to purchase up to an aggregate principal amount of its outstanding notes listed in the table below (collectively, the "Notes") for a combined aggregate purchase price of up to $220 million (excluding accrued and unpaid interest, which also will be paid to, but excluding, the applicable Settlement
Macy : THE WORKSHOP AT MACY’S LAUNCHES APPLICATIONS FOR 2025 COHORT
2024-09-04
Contact: Macy's External Communications, Communications@macys.com THE WORKSHOP AT MACY's LAUNCHES APPLICATIONS FOR...
Largest borrow rate increases among liquid names
2024-09-04
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Stocks Going Ex Dividend In September 2024
2024-09-01
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Nordstrom: Was Q2 2024 Profitability Improvement A Signal Or Just Noise?
2024-08-30
Nordstrom's growth is driven by its Nordstrom Rack segment, which saw an 8.8% YoY sales increase, but this may pressure overall margins. Click for a JWN Q2 earnings update.
Mike Ullman, a Corporate Fixer Who Helped Save JCPenney and Macy’s, Dies at 77
2024-08-29
Ulman, who also served as chairman of Starbucks, said good leaders needed three qualities: telling the truth, giving others credit and humility.
Macy’s Doesn’t Need a Miracle to Lift Its Stock
2024-08-29
Anyone betting on a turnaround at department-store chain Macy’s over the past decade would have lost money, and lots of it. Macy’s, along with other department stores, has been losing share to off-price retailers such as T.J. Maxx and Ross Stores for a while. Macy’s top line has shrunk by about 15% over the past decade as it has closed underperforming stores, worse than the decline seen at Kohl’s while upscale Nordstrom revenue has grown.
Single-letter tickers = single-digit returns?
2024-08-28
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