Macy's Accelerates Its Debt Reduction Plan [The Motley Fool]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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macysinc.com/ir
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Source: The Motley Fool
The company is repurchasing $750 million of its debt this week, which will dramatically strengthen its balance sheet. In early 2017, Macy's ( NYSE:M ) vowed to clean up its balance sheet. At the time, it was in the midst of a multiyear sales and earnings slump, and management recognized that the company needed to be better prepared for future downturns. Macy's has continued paying its regular dividend, which amounts to $1.51 per share annually, but otherwise it has devoted all of its free cash flow to debt reduction since then. Given that Macy's generates most of its cash flow in the fourth quarter, the company tends to make its boldest debt reduction moves near the end of the year. Sure enough, Macy's announced on Wednesday that it will repurchase more of its debt than previously expected in conjunction with a tender offer it launched two weeks ago. Macy's expands the tender offer On Nov. 28, Macy's began a tender offer with the goal of repurchasing $600 millio
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M
News
- Macy's: Still Looking For A Bigger Bid [Seeking Alpha]Seeking Alpha
- Macy's, Inc. (NYSE: M) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Macy's slashes job pledge, ups investment for $640M Rowan County distribution center [Yahoo! Finance]Yahoo! Finance
- Romance scammers turn victims into "money mules," creating a legal minefield for investigators [CBS News]CBS News
- I was happy in the UK and dead against moving to New York. When my partner was made redundant, it felt like our only option. [Business Insider]Business Insider
M
Earnings
- 2/27/24 - Beat
M
Sec Filings
- 4/19/24 - Form 3
- 4/19/24 - Form 3
- 4/19/24 - Form 3
- M's page on the SEC website