Macy's reportedly looking to use real estate to come up with cash during coronavirus pandemic [MSNBC.com]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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Source: MSNBC.com
Macy'sthe coronavirus pandemicThe department store chain is looking to issue new bonds backed by some of its real estate, excluding its flagship Herald Square location, along with other assets,the report saidThe interest rate and maturity of the debt is still under discussion, and plans remain fluid and could shift course, it said.Macy's stock recently was down less than 1% in after-hours trading. Shares had closed Friday up nearly 3%, having tumbled 65% this year. Macy's has a market cap of about $1.8 billion."As we have previously communicated, the coronavirus pandemic continues to take a toll on Macy's, Inc.'s business," a spokeswoman told CNBC in an emailed statement. "While the digital business remains open, we have lost the majority of our sales due to our store closures.""The company is also exploring numerous options to strengthen our capital structure," she added. "We have relationships with a range of advisors."All of Macy's stores havebeen dark since March 19to help curb th
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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