Macy's CEO Jeff Gennette says the retailer will emerge from the coronavirus pandemic as a smaller company; shares fall [MSNBC.com]
Macy's Inc (M)
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Source: MSNBC.com
Amid all the uncertainty that thecoronavirus pandemicMacy's"We are going to emerge out of this as a smaller company," Gennette said during a virtual fireside chat with Gordon Haskett analyst Chuck Grom. "We don't really know what the ramp back looks like."Macy's is also already planning to see lower volume this holiday season, in part because millions of Americans are now unemployed and without paychecks. Gennette also expects its hundreds of department stores and specialty shops, including Bloomingdale's and Bluemercury, to reopen in phases.Macy's shares were recently down about 7%, following the conversation with Gordon Haskett's Grom. The stock has fallen more than 66% this year. Macy's has a market value of about $1.8 billion.Each of America's department store chains — including Macy's —has been grappling with plunging sales,"This is a liquidity crisis of enormous consequences," Mark Cohen, former Sears Canada CEO, recently told CNBC.Macy's management team on Thursdaywalked analy
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News
- Macy's (NYSE:M) had its "neutral" rating reaffirmed by analysts at The Goldman Sachs Group, Inc..MarketBeat
- Macy's (NYSE:M) had its "cautious" rating reaffirmed by analysts at Evercore ISI.MarketBeat
- Macy's (NYSE:M) had its price target raised by analysts at Morgan Stanley from $20.00 to $21.00. They now have an "equal weight" rating on the stock.MarketBeat
- Macy's Posts Earnings Beat, but Consumers Are ‘Choiceful' Heading Into Holiday [Yahoo! Finance]Yahoo! Finance
- Macy's (NYSE:M) had its "positive" rating reaffirmed by analysts at Morgan Stanley.MarketBeat
M
Earnings
- 12/3/25 - Beat
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Sec Filings
- 12/3/25 - Form 8-K/A
- 12/3/25 - Form 8-K
- 11/5/25 - Form SCHEDULE
- M's page on the SEC website