Macy’s to close 150 stores by 2026, open new Bloomingdale’s, Bluemercury locations
Ted Oakley, managing partner at Oxbow Advisors, weighs projected earnings, Fed interest rates and a possible Congressional ban on shopping app Temu. Macy’s plans to close about 150 stores over the next three years as part of a strategic shift to focus on upscale chains Bloomingdale’s and Blue Mercury. The company publicly announced the change […]
Migrant Teen Allegedly Robs Macy’s Weeks After Assaulting Officers
Immigrant teen Darwin Andres Gomez Izquiel has been charged with involvement in the Macy’s store robbery, just weeks after he allegedly assaulted a police officer. Gomez Izquiel, 19, was arrested Tuesday night and charged with robbery and petty larceny after allegedly robbing a Macy’s store in Queens. He and three others allegedly entered Queens Center […]
New Macy’s CEO grabs reins amid takeover threats
Macy’s CEO Tony Spring will officially take the reins on Sunday as the storied retailer faces slowing sales growth and the threat of a takeover. Mr. Spring, 58, rose through the ranks at the luxury brand’s sister company Bloomingdale’s and has been Macy’s next CEO since last March, when Jeff Gennett announced his plans to […]
‘Migrant criminal activity is a real problem,’ police chief says after 6 charged for 2 heists from same Macy’s on same day
The police chief in Oak Brook, Ill., a suburb west of Chicago, said Tuesday that six people were charged with grand larceny and grand larceny in connection with two separate incidents at Macy's. “criminal acts are a real problem.'' What are the details? DuPage County State's Attorney's Office on Wednesday. Said Police responded to a […]
Macy’s could get takeover bid from buyout firm Sycamore Partners
Private equity giant Sycamore Partners is exploring the possibility of acquiring Macy's, even though the iconic retail chain rejected an unsolicited offer from another bidding group this week. The Post reported. Sycamore, a prolific acquisition company with retail properties such as Ann Taylor, Talbots and regional department store chain Belk, has reportedly been in secret […]
Man Alleges Macy’s, Sunglass Hut’s False Facial Recognition Led To His Jailing And Rape
A Texas man claims he was mistakenly identified as an armed robber by Macy's and Sunglass Hut's facial recognition software, leading to his imprisonment and gang rape, court documents revealed Thursday. Harvey Eugene Murphy Jr., 61, is the man who allegedly robbed a Sunglasses Hut at gunpoint in Houston, Texas, in January 2022. “Positively (but […]
Arkhouse confirms $5.8 billion proposal to take Macy’s private
ArkHouse Management and its partner Brigade Capital Management on Dec. 1 made a $5.8 billion offer to take department store chain Macy's private, ArkHouse confirmed on Sunday. ArkHouse Management, an investment firm specializing in real estate, and Brigade Capital Management, a global asset manager, have submitted a proposal to acquire Macy's shares they do not […]
Dow, S&P hit all-time high; Macy’s store closings; Disney CEO Iger’s payday; and Spirit-JetBlue deal grounded
CFRA Chief Investment Strategist Sam Stovall provides allocation advice and reacts to recent sector layoffs. — Dow Jones Industrial Average and S&P 500 soar to all-time highs — FOX Business Exclusive: Federal Reserve President Mary Daley on next interest rate move — Former President Trump sweeps Iowa, now heads to New Hampshire — Davos Recap: […]
Macy’s to slash 2,350 jobs, close 5 stores in streamlining effort: report
The Barron's Roundtable panel provides insight into investments in Macy's, Nordstrom, and Gilead Sciences. Macy's, the famous retailer, plans to close five stores and lay off more than 2,000 employees, the Wall Street Journal reports. WSJsaid the retail giant plans to lay off about 2,350 positions, or 3.5% of its workforce, citing a memo sent […]
Macy’s slashing over 2K jobs, closing five stores amid pressure to go private
Department store chain Macy's will cut 2,350 jobs and close five stores as it seeks to streamline its operations, a company spokesperson told Reuters on Thursday. The layoffs represent 3.5% of Macy's total workforce. As of January 2023, the company operated 722 stores and employed 94,570 full-time and part-time employees, excluding seasonal employees. Reuters reported […]