Macy's Is Shrinking Its Debt Once Again [The Motley Fool]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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US:NYSE Investor Relations:
macysinc.com/ir
Company Research
Source: The Motley Fool
The No. 1 department store operator has significantly improved its balance sheet since the beginning of 2017. Less than two years ago, Macy's ( NYSE:M ) faced a nasty combination of slumping earnings and a heavy debt load. This sent investors fleeing for the exits -- and caused the company to abruptly halt its share-repurchase program to focus on paying down debt . However, since late 2017, Macy's has stabilized its sales, which has allowed it to return to earnings growth. Meanwhile, it has been able to rapidly reduce its debt. Last week, Macy's announced that it plans to use a big chunk of its holiday-quarter cash flow to pay off more debt, which will put it in good position to start buying back stock in 2019. Confronting the debt problem For the past several years, Macy's has had a leverage ratio target of 2.5 to 2.8. That means it aimed to keep its debt (after some adjustments) between 2.5 and 2.8 times its adjusted earnings before interest, taxes, depreciatio
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News
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M
Earnings
- 2/27/24 - Beat
M
Sec Filings
- 3/27/24 - Form 4
- 3/27/24 - Form 4
- 3/27/24 - Form 4
- M's page on the SEC website