July 02, 2020
Macy’s Considers Options For Black Friday Amid Pandemic
As it starts to consider the holiday season in the age of social distancing, Macy’s Chairman and CEO Jeff Gennette noted on a recent call with analysts that the retailer is mulling all...
July 01, 2020
Macy’s Takes $3.1B Charge As Pandemic Dampens Outlook
Macy’s Inc. recognized a $3.1 billion non-cash goodwill charge before tax, as the retailer’s long-haul forecast and market capitalization shifted, mainly due to the coronavirus health crisis. The department store...
June 09, 2020
Reopened Macy’s Stores Exceed Expectations, But Chain Still Expects Big...
Macy’s Inc. reported that its reopened stores are “performing better than anticipated” in its preliminary first-quarter 2020 financial results. The department store retailer said it had roughly 450 retail locations...
May 26, 2020
Macy’s Unveils $1.1B Offering Of Senior Secured Notes
To help pay back borrowings under its existing $1.5 billion credit facility, Macy’s Inc. unveiled the offering of $1.1 billion in senior secured notes set to mature in 2025. The...
May 21, 2020
Macy’s Warns of $1B 1Q Loss, But Says Financing Is...
Struggling retailer Macy’s warned on Thursday (May 21) that it expects as much as a $1.11 billion first-quarter operating loss, but said it was “on track” to access additional financing...
May 04, 2020
Supplier Payment Rallying Cries Grow Louder
As the data around the economic toll of the coronavirus pandemic rolls in, rallying cries from around the world are growing louder to support small businesses. Increasingly, those cries include...
April 30, 2020
Macy’s Plans To Reopen 68 Locations After COVID-19 Closures
As it joins the ranks of returning merchants following COVID-19 store closures, Macy’s intends to open 68 retail locations on Monday (May 4) in states that have eased restrictions. CEO Jeff...
April 29, 2020
Half Of Mall Department Stores Expected To Close By Next...
Long before the coronavirus struck, brick-and-mortar stores faced extinction by a combination of eCommerce and bankruptcies. More than 9,300 brick-and-mortar stores closed last year in the U.S., shattering the previous...
April 22, 2020
Macy’s Could Raise Up To $5B In Debt Amid COVID-19
To contend with the COVID-19 pandemic, Macy’s is considering raising up to $5 billion worth of debt. The retailer will look to bring in $3 billion with inventory as collateral,...