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News Breaks
January 3, 2013
08:09 EDTMMacy's to close 6 stores in early Spring 2013, confirms plans for 9 new stores
Macy’s detailed a series of normal-course adjustments to its portfolio of Macy’s and Bloomingdale’s stores across the country. The company said it will close the six stores in early spring 2013. Final clearance sales will begin on Monday, Jan. 7, at five Macy’s locations and on Sunday, Jan. 6, at Bloomingdale’s Fashion Show, and run for between seven and 11 weeks. In conjunction with these store closings, an estimated $2M-$4M of costs will be booked in 4Q12. These costs were not previously included in earnings guidance provided by the company, Macy's said. As previously announced, nine new and replacement Macy’s and Bloomingdale’s stores are currently planned and/or under construction. One new Bloomingdale’s Outlet store is being announced, the company said.
News For M From The Last 14 Days
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October 23, 2014
08:41 EDTMBuild-A-Bear partners with Macy's to open shop-in-shop locations for holidays
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October 14, 2014
14:17 EDTMMacy's to open 2 hours earlier for Thanksgiving this year, CNN reports
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October 13, 2014
10:06 EDTMJ.C. Penney rises after selecting Home Depot executive as next CEO
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06:15 EDTMJ.C. Penney downgraded to Sell from Neutral at UBS
UBS downgraded its rating on J.C. Penney (JCP) shares to Sell saying the company's 2017 EBITDA target of $1.2B is overly optimistic as it assumes years of market share gains against strong competitors like Macy's (M) and Kohl's (KSS). UBS halved its price target for Penney shares to $5 from $10. The retailer's stock closed Friday down 52c to $7.12.

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