US55616P1049 - Common Stock
/PRNewswire/ -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that...
Netflix, MongoDB downgraded: Wall Street's top analyst calls
M earnings call for the period ending September 30, 2024.
As activist pressure builds, Macy's is reporting tepid sales results.
On Wednesday, Macy’s Inc (NYSE:M) reported third-quarter sales of $4.74 billion, beating the consensus of $4.72 billion. Macy’s net sales decreased 2.4%, with comparable sales down 2.4% on an owned basis and down 1.3% on an owned-plus-licensed-plus-marketplace basis. Sales growth at Macy’s First 50 locations, Bloomingdale’s, and Bluemercury was offset primarily by weakness in Macy’s non-First 50 locations, digital channels, and cold weather categories. Also Read: Macy’s Delays Q3 Earnings Report
As activist pressure builds, Macy's is looking to convince shareholders its Bold New Chapter strategy is strong enough to propel it into the future.
The company is in the middle of a turnaround effort under CEO Tony Spring and has had to rely on its luxury outlets Bloomingdale's and Bluemercury to lift sales, even as shoppers defer purchases at its nameplate stores. Macy's had last month said a single employee "intentionally" made wrong accounting entries to hide about $132 million to $154 million of delivery expenses between the fourth quarter of 2021 through third quarter of 2024. It had recorded about $4.36 billion as delivery expenses in this period.
Macy’s Inc. trimmed its profit outlook after concluding its investigation into an employee plot to hide millions of dollars in expenses.
/PRNewswire/ -- Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of...
Macy’s, Inc. (NYSE:M) will release its third-quarter financial results, before the opening bell, on Wednesday, Dec. 11. Analysts expect the New York-based retailer to report quarterly earnings at 3 cents per share, down from 21 cents per share in the year-ago period. Macy’s projects quarterly revenue of $4.72 billion, compared to $4.86 billion a year earlier, according to data from Benzinga Pro. On Nov. 26, Telsey Advisory Group analyst Dana Telsey maintained Macy’s with a Market Perform and mai