2 Ways Macy's Can Benefit From Reducing Its Debt [The Motley Fool]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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macysinc.com/ir
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Source: The Motley Fool
The department store sector could be ripe for an M&A spree. Macy's will find it hard to participate until it gets its debt under control. Between 2013 and 2015, department store giant Macy's ( NYSE:M ) went on a borrowing binge to support an aggressive share repurchase program. At the time, Macy's track record of earnings and cash flow growth made this growing debt burden seem sustainable. Management has had to revise its expectations in the past two years, though. With revenue slipping and earnings plunging , Macy's is now looking to slash its debt burden significantly. Obviously, this will reduce the company's interest expense. But just as importantly, it will give Macy's much more flexibility going forward. Macy's changes its capital allocation focus As Macy's earnings rose in 2013 and 2014, management ramped up the company's borrowings. During the 2013-2015 period, Macy's increased its debt load by nearly $1 billion to supplement its free cash flow and buy bac
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M
News
- Macy's: Still Looking For A Bigger Bid [Seeking Alpha]Seeking Alpha
- Macy's, Inc. (NYSE: M) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Macy's slashes job pledge, ups investment for $640M Rowan County distribution center [Yahoo! Finance]Yahoo! Finance
- Romance scammers turn victims into "money mules," creating a legal minefield for investigators [CBS News]CBS News
- I was happy in the UK and dead against moving to New York. When my partner was made redundant, it felt like our only option. [Business Insider]Business Insider
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