Macy's looks to raise $5 billion in debt to avoid bankruptcy: report [MarketWatch]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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Source: MarketWatch
Macy's Inc. is looking to raise as much as $5 billion in debt in an effort to avoid bankruptcy due to the coronavirus shutdown, CNBC reported Tuesday night. CNBC said the nation's largest department-store chain would use its inventory as $3 billion in collateral, with another $1 billion to $2 billion in collateral coming from its real estate. Sources told CNBC that bankruptcy is not a focus at this time. Retailers are being hard hit by the economic shutdown, and last week Cowen analysts estimated Macy's had only about four months of cash available. Bloomberg News also reported last week that Macy's was seeking to raise cash through a debt sale backed by real estate. Macy's has furloughed most of its staff, and is losing its CFO after less than two years. Macy's shares are down 69% year to date, compared to the S&P 500's 15% loss. Ongoing losses have also dropped the retailer from the S&P 500, as it joined the S&P SmallCap 600 earlier this month.
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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
M
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