Why Macy's, Penney, Gap, and others may have to close more stores [CBS News]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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Source: CBS News
Why Macy's, Penney, Gap, other retailers may have to close even more stores For retailers, recent headlines are showing both disappointment and optimism. Shares of JCPenney ( JCP ) slumped more than 6 percent on Tuesday after the surprise departure of CEO Marvin Ellison raised fresh concerns about the struggling 110-year-old retailer's future. But Macy's ( M ), which has faced its share of challenges, is on the upswing after reporting better-than-expected results last week and issuing bullish earnings guidance. That's stoking investors' hopes of a possible turnaround at the largest U.S. department store chain. Shares of Macy's have surged more than 31 percent this year, outperforming the S&P 500 index, which has gained about 2 percent. Penney shares have slumped more than 25 percent. In the category of retail disappointments, shares of Target ( TGT ) plunged nearly 6 percent on Wednesday after the big-box retailer's results fell short because of unseasonably cool spring weather. Per
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M
Earnings
- 2/27/24 - Beat
M
Sec Filings
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- 4/19/24 - Form 3
- 4/19/24 - Form 3
- M's page on the SEC website