Macy's says debt deal will be done ahead of liquidity crunch, shares fall 7% [MSNBC.com]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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Source: MSNBC.com
Macy'scoronavirus pandemic"We have been engaged in this process for a while," Chief Financial Officer Paula Price said during a virtual fireside chat with Gordon Haskett analyst Chuck Grom. "We have identified lead banks. ... [We're] confident we will have a deal closed and funded well in advance of when we need additional liquidity."CNBC hadpreviously reportedPrice said Thursday that the company's strongest assets, to use as collateral to raise the debt, include its inventory and unencumbered real estate.Macy's still has close to the full $1.5 billion on hand that itpulled down last month from its credit revolverChief Executive Jeff Gennette, meantime, on Thursdaywalked analysts through Macy's plans to reopen its storeslocal lockdown restrictions have been loosenedCovid-19 infection rates continue to taper offAhead of the virus slamming the U.S. economy and drastically changing the retail landscape, Macy's in February announced itplanned to shut 125 of its stores over the next three
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News
- Sunrise Mall in Citrus Heights faces more store closures during the holiday season [CBS News]CBS 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
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