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The Davos consensus on the presidential electionPublicly, the global business leaders who gathered at the World Economic Forum in Davos, Switzerland, haven’t wanted to predict the winner of the upcoming U.S. presidential election. In an interview with Andrew on CNBC, he didn’t predict that Trump would win, but suggested that dismissing the former president and his supporters would be a mistake. “He wasn’t wrong about some of these critical issues, and that’s why they’re voting for him,” he said. “Trump is already the president at Davos — which is a good thing because the Davos consensus is usually wrong,” Alex Soros, the son of George Soros, said on a panel. A little history: The Davos consensus was that Hillary Clinton would beat Trump in 2016.

Persons: haven’t, Donald Trump, DealBook, Trump, Jamie Dimon, JPMorgan Chase, Andrew, “, ” Dimon, ”, MAGA, bode, “ Trump, ” Alex Soros, George Soros, Hillary Clinton, Sting, Biden, It’s, Reddit, Macy’s, Tony Spring, Warren Buffett, Morningstar Organizations: Economic, JPMorgan, CNBC, Trump, NATO, Biden, Trump’s Republican, Davos, Apple Watch, Reuters, Investors Locations: Davos, Switzerland, U.S, China, American, Indonesia, E.S.G

☆ Macy’s Plans to Cut 2,350 Jobs and Close 5 Stores
▼ + stars: | 2024-01-18 | by ( Jordyn Holman | More About Jordyn Holman | ) www.nytimes.com time to read: +1 min

Macy’s, the country’s largest department store operator, told employees Thursday that it was laying off 13 percent of its corporate work force. The move comes as the company prepares to unveil a new strategy that its incoming chief executive will oversee. The cuts amount to roughly 2,350 jobs, or about 3.5 percent of the company’s overall work force, which includes employees at the subsidiaries Bloomingdale’s and Bluemercury. The company also said it would close five of its more than 560 Macy’s stores. Tony Spring will take over as Macy’s chief executive next month from Jeff Gennette, a company veteran who is retiring after holding the post since 2017.

Persons: Tony Spring, Jeff Gennette, Adrian Mitchell Organizations: The New York Times, Wall Street, Mr

☆ Macy's to cut more than 2,300 jobs, about 3.5% of its workforce, and close five stores
▼ + stars: | 2024-01-18 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

Macy's on Thursday said it will cut about 3.5% of its workforce and close five of its namesake mall locations as the legacy department store moves to trim costs and turn around slowing sales. The move will affect approximately 2,350 positions across its corporate office and stores, company spokesman Chris Grams said. The majority of those — roughly 500 —are its namesake stores, followed by 158 Bluemercury stores and 56 Bloomingdale's stores. The department store chain's footprint has gotten smaller in recent years, however. He said since that 2020 announcement, Macy's had closed about 80 namesake locations and had plans to soon close another five.

Persons: Chris Grams, Grams, Macy's, Tony Spring, Jeff Gennette, Adrian Mitchell, Mitchell, It's, Gennette Organizations: Wall Street Locations: Arlington , Va, Leandro, Calif, Lihue, Hawaii, Simi Valley, Tallahassee, Fla, Cincinnati, San Francisco

☆ Macy's smashes profit estimates as leaner inventory lifts margins, shares jump
▼ + stars: | 2023-11-16 | by ( Savyata Mishra | ) www.reuters.com time to read: +2 min

Shoppers are seen outside Macy's in the Manhattan borough of New York City, New York, U.S., March 30, 2021. REUTERS/Caitlin Ochs Acquire Licensing RightsNov 16 (Reuters) - Macy's (M.N) crushed analysts' estimates for quarterly profit on lower inventories and strong demand for beauty products, sending the department store operator's shares surging as much as 14% on Thursday. "(We are) entering the holiday period in a healthy inventory position," Macy's outgoing CEO Jeff Gennette said in a statement. Gross margins improved 160 basis points in the third quarter, driven by a 110 basis points jump in merchandise margins, bolstered by lower markdowns within the Macy's brand and reduced freight costs. Credit card revenues again declined, down 100 basis points year-on-year, indicating its core middle-income consumer faced difficulty in repaying debts as interest rates climbed.

Persons: Caitlin Ochs, Jeff Gennette, Tony Spring, Rachel Wolff, Macy's, Savyata Mishra, Sriraj Organizations: REUTERS, Bloomingdale, Target, Walmart, Insider, Thomson Locations: Manhattan, New York City , New York, U.S, Bengaluru

☆ Macy's will open up to 30 stores, as department store looks to strip malls as key part of its future
▼ + stars: | 2023-10-03 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +6 min

In this article M Follow your favorite stocks CREATE FREE ACCOUNTMacy's is opening more small-format stores across the country. Macy'sMacy's on Tuesday said it will open up to 30 smaller stores in strip malls over the next two years, as the retailer chases customers out of dying malls and into bustling suburbs. Chief Stores Officer Marc Mastronardi said small-format stores are part of the solution. Macy's smaller, off-mall stores have spacious fitting rooms and a curated mix of merchandise that's frequently swapped out. The company is phasing out Market by Macy's, the name it initially used for the smaller Macy's stores.

Persons: Macy's, —, Marc Mastronardi, that's, Mastronardi, Jeff Gennette, Gennette, Tony Spring, Oliver Chen Organizations: Macy's, Cowen, Nike, Armour, 34th, Shoppers Locations: Macy's, floundering

☆ Jim Cramer sits down with Macy's outgoing and incoming CEOs
▼ + stars: | 2023-10-03 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Cramer sits down with Macy's outgoing and incoming CEOsJeff Gennette, Macy's chairman and CEO, and Tony Spring, Macy's president and CEO-elect, joins 'Mad Money' host Jim Cramer to talk the direction of the company moving forward.

Persons: Jim Cramer, Jeff Gennette, Tony Spring

☆ Macy's and Bloomingdales can learn from one another: Macy's President Tony Spring
▼ + stars: | 2023-10-03 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMacy's and Bloomingdales can learn from one another: Macy's President Tony SpringJeff Gennette, Macy's chairman and CEO, and Tony Spring, Macy's president and CEO-elect, join 'Mad Money' host Jim Cramer to talk the direction of the company moving forward.

Persons: Bloomingdales, Tony Spring Jeff Gennette, Tony Spring, Jim Cramer

☆ Incoming Macy's CEO calls Bloomingdale's brand a 'growth vehicle' for the company
▼ + stars: | 2023-10-03 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Incoming Macy's CEO Tony Spring and current CEO Jeff Gennette told CNBC's Jim Cramer the company is leaning into the success of its brands like higher-end department store Bloomingdale's and luxury beauty retailer Bluemercury. Spring, who will take over for Gennette in February after his retirement, had been at the helm of Bloomingdale's since 2014. Macy's announced Tuesday it would be expanding its "small-format store strategy," planning to increase the number of smaller Macy's and Bloomingdale's locations across the country. Spring said the company's smaller divisions of Bloomingdale's — known as "Bloomie's" — have been successful. Gennette and Spring also claimed Macy's has an edge on its rivals when it comes to holiday retail.

Persons: Tony Spring, Jeff Gennette, CNBC's Jim Cramer, Macy's, Spring, Gennette Organizations: Gennette, Retail Locations: Bloomingdale's

☆ Macy's-owned Bloomingdale's taps international exec Olivier Bron as its next CEO
▼ + stars: | 2023-09-12 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

Shoppers walk past a Bloomingdale's store in the SoHo neighborhood of New York, US, on Wednesday, Dec. 28, 2022. With the move, the legacy retailer is adding an outside perspective and a dash of global flair to the higher-end department store. Bron, 46, is a French national who was most recently CEO of Central and Robinson department stores in Thailand. A 36-year veteran of Bloomingdale's, Spring became CEO-elect of the parent company Macy's in March. Macy's said Tuesday that it has tapped international retail executive Olivier Bron as the next CEO of its upscale department store, Bloomingdale's.

Persons: Bron, Tony Spring, Spring, Jeff Gennette, Macy's, Olivier Bron, Michael Gould, Beverly, Bloomingdale's, Nordstrom Organizations: Bain & Company, Central, Robinson, Bloomingdale's, Macy's, Beverly Hills Locations: SoHo, New York, Lafayette, Paris, Bron, French, Thailand, Dubai, Kuwait, Manhattan, New York City, Seattle, Macy's

☆ Macy’s Names Next Bloomingdale’s C.E.O.
▼ + stars: | 2023-09-12 | by ( J. Edward Moreno | More About J. Edward Moreno | ) www.nytimes.com time to read: +1 min

Macy’s named Olivier Bron the next chief executive of Bloomingdale’s, the company’s luxury chain, on Tuesday, the latest move in a leadership shuffle this year. Mr. Bron was previously chief executive of Central Group’s Central and Robinson Department Stores in Thailand. Macy’s announced this year that Mr. Spring would be elevated to chief executive of Macy’s in February after the planned retirement of Jeff Gennette, who has led the company since 2017. Macy’s has ambitions to become more competitive in e-commerce as younger shoppers pull away from department stores. Mr. Gennette previously said Bloomingdale’s, under Mr. Spring, had worked as a “scrappy incubator” for ideas that eventually made their way to Macy’s.

Persons: Macy’s, Olivier Bron, Bron, Tony Spring, Jeff Gennette, Gennette, Mr, Denis Guignebourg Organizations: Bloomingdale’s, Mr, Central Group’s, Robinson Department, Macy’s, Galleries Lafayette, Bain & Company . Credit, Sipa USA, Associated Press Locations: Thailand, United States

☆ As Macy's stock struggles, the retailer bets on private brands with more modern looks
▼ + stars: | 2023-07-19 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

NEW YORK — Macy's , the 165-year-old department store chain, is looking for ways to keep up with the newer kids on the block. On Wednesday, it showed off its newest private brand, On 34th, at its Macy's Herald Square flagship. The brand, named after the legacy store's Manhattan location, is made of up of women's clothing and accessories. The department store operator cut its full-year outlook last month, after seeing consumers pull back on purchases of clothing and other items. Some of Wall Street's worries are company-specific, as investors question whether the legacy department store can keep up with shoppers' changing tastes.

Persons: Tony Spring, Jeff Gennette, Nata Dvir, Gennette, Macy's Organizations: NEW, Target, Herald, Consumers Locations: Manhattan

☆ Macy’s opens more strip mall stores as expansion strategy faces pivotal test
▼ + stars: | 2023-05-04 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +11 min

The shops, called Market by Macy's and Bloomie's, are about one-fifth of the size of the retailer's typical Macy's and Bloomingdale's stores. It has not announced the locations of the four Market by Macy's stores, but said the additional Bloomie's store will be in Seattle. By opening the strip-mall shops, the retailer could steal business away from its larger namesake mall stores. Market by Macy's stores have worked best in shopping centers with grocery anchors or stores such as off-mall retailers that draw traffic, Mastronardi said. Melissa Repko | CNBCInside of Market by Macy's, shoppers find a narrower mix of merchandise than in the mall stores.

☆ Jim Cramer's top 10 things to watch in the stock market Monday: OPEC+ surprise, Macy's lift, Tesla miss
▼ + stars: | 2023-04-03 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

How are we approaching the market week ahead? I also explained that we are indeed in a bull market, but that things could get a bit rocky from here. Analyst Matthew Boss also increased his price target by a buck to $29, citing favorable risk-to-reward setup at current stock price. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ JPMorgan says this retailer is a buy as it nears an 'inflection point'
▼ + stars: | 2023-04-03 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Analyst Matthew Boss upgraded the retail stock to overweight from neutral and increased his price target by $1 to $29. His price target implies the stock will rally 65.8% over the next year from where shares ended Friday's session. He said the retailer should be able to see multiyear EBITDA margins in the low double digits due to five "self-help" growth vectors. Boss said the stock has an attractive risk-to-reward ratio and is at an attractive entry point following recent underperformance. Macy's trades at around two times its 2024 EBITDA, he said, which places it around 50% below the average of stocks in the department stores/mall-based specialty category.

☆ The rise and fall of Macy's, the beloved American retailer which just announced a new CEO to lead its revival efforts
▼ + stars: | 2023-03-31 | by ( Bethany Biron | ) www.businessinsider.com time to read: +2 min

As one of the oldest and largest department stores in the nation, Macy's is an icon of American retail. Despite its dominance, Macy's has struggled in recent years to overcome slumping sales and continues to shutter stores. Here's the story of Macy's rise to iconic American retailer and a look at its recent stumbles. Since its humble beginnings as a small dry goods store in New York City, Macy's has pioneered several components of the modern department store, including onsite tailoring, dining, and elaborate window dressings. While the fate of the retailer remains unknown, we took a look at Macy's meteoric rise and recent struggles.

☆ Macy’s CEO Jeff Gennette to Retire, Give Reins to Bloomingdale’s Boss Tony Spring
▼ + stars: | 2023-03-29 | by ( Suzanne Kapner | ) www.wsj.com time to read: 1 min

Macy’s CEO Jeff Gennette, who joined the company in 1983 and took the helm in 2017, will step aside in February. The chief executive of Macy’s Inc. will retire after steering the department-store chain through several crises, handing over its future to one of his lieutenants. Jeff Gennette , a Macy’s veteran who took over as CEO in 2017, will step aside in February, the company said. He faced the rise of Amazon.com Inc. as an apparel rival, fended off an activist investor’s calls to split Macy’s stores from its e-commerce business and managed through the Covid-19 pandemic.

☆ Macy's CEO Gennette to retire next year, insider Spring to succeed
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +2 min

March 29 (Reuters) - Macy's Inc (M.N) on Wednesday said its Chief Executive Officer Jeff Gennette will retire in February, after serving the U.S. department store chain for 40 years and will be succeeded by insider Tony Spring. Spring, who is the chairman and CEO of Macy's unit Bloomingdale's, has been with the company for 36 years. He was named as a successor to Gennette after an internal and external search, Macy's said. Macy's said as part of the leadership transition, Chief Financial Officer Adrian Mitchell's responsibilities have been expanded to include the role of chief operating officer. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Macy's CEO Gennette to retire in Feb next year, insider Spring to succeed
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: 1 min

March 29 (Reuters) - Macy's Inc (M.N) on Wednesday said its Chief Executive Officer Jeff Gennette will retire in February 2024, after serving the company for 40 years. The company said Bloomingdale's chairman and CEO Tony Spring has been appointed by the board to succeed Gennette. Shares of the department store chain fell about 2% in premarket trading. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Macy's will have a new CEO. He's from Bloomingdale's
▼ + stars: | 2023-03-29 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

Macy’s (M) CEO Jeff Gennette will retire in 2024, the company announced Wednesday. Gennette, 61, has been Macy’s CEO for seven years. He led the 165-year-old department store chain through the rise of Amazon (AMZN), the Covid-19 pandemic, and industry upheaval. Under Gennette, Macy’s most notably built out its online platform and shifted away from malls. “Thanks to Mr. Gennette, Macy’s isn’t dead or even circling the drain,” GlobalData Retail analyst Neil Saunders said in a note to clients Wednesday.

☆ Macy's CEO Jeff Gennette to retire after 40 years at the department store
▼ + stars: | 2023-03-29 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +3 min

Macy's CEO Jeff Gennette will retire and step down from his role in February 2024. Gennette has been at the department store chain for 40 years. Jeff Gennette joined Macy's in 1983 as an executive trainee and worked his way up the ranks, becoming CEO in 2017. Macy's said Wednesday that Tony Spring, CEO of Macy's sister company Bloomingdale's, will take over Gennette's role. CFO Adrian Mitchell will add the role of COO to his responsibilities – overseeing stores, tech, and supply chain needs, Macy's said.

☆ Jim Cramer's top 10 things to watch in the stock market Wednesday: Stock pop, retailers, AI caution
▼ + stars: | 2023-03-29 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

UBS shuffles retailers: Ross Stores (ROST) to sell; Burlington (BURL) to sell; Club name Foot Locker (FL) to sell. Apple Pay Later allows four payments over six weeks. Users can apply for Apple Pay Later loans of between $50 and $1,000. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ Tony Spring, CEO of Bloomingdale's, has been appointed President & CEO-Elect
▼ + stars: | 2023-03-29 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTony Spring, CEO of Bloomingdale's, has been appointed President & CEO-ElectMad Money host Jim Cramer talks to Tony Spring, CEO of Bloomingdale's, on his appointment to President and CEO-Elect of the company.

☆ Macy's CEO to step down. Here's what the future of the brand looks like and the strategy to engage younger consumers
▼ + stars: | 2023-03-29 | by ( Alexandra York | ) www.businessinsider.com time to read: +5 min

Macy's CEO Jeff Gennette will retire in February, the company announced on Wednesday. Tony Spring will take his place and continue shifting Macy's strategy based on consumer changes. Here's how Macy's "Polaris Strategy" is preparing the brand for the future. A shift in supply chain proceduresJeff Gennette spoke about the future of Macy's. Astrid Stawiarz/Getty ImagesThe supply chain has been a pain point for many businesses over the last three years.

☆ Macy's CEO Jeff Gennette, who's led the company's turnaround effort, will retire next year
▼ + stars: | 2023-03-29 | by ( Melissa Repko | ) www.cnbc.com time to read: +3 min

Macy's CEO Jeff Gennette will retire early next year after a four-decade career at the company, the department store chain announced Wednesday morning. He will be succeeded by Tony Spring, CEO of the company's higher-end department store banner, Bloomingdale's. In addition to the CEO change, Macy's Chief Financial Officer Adrian Mitchell will take on an expanded role and also serve as the company's chief operating officer. In a news release, Macy's said Spring, 58, was tapped as its next leader after an internal and external search. Gennette called Spring and Mitchell "an ideal team to build on our momentum and propel Macy's, Inc. into the future."

☆ Macy’s will have a new CEO. He’s from Bloomingdale’s
▼ + stars: | 2023-03-29 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +1 min

Macy’s (M) CEO Jeff Gennette will retire in 2024, the company announced Wednesday. Gennette, 61, has been Macy’s CEO for seven years. He led the 165-year-old department store chain through the rise of Amazon (AMZN), the Covid-19 pandemic, and industry upheaval. Under Gennette, Macy’s most notably built out its online platform and shifted away from malls. But Macy’s has outperformed Kohl’s (KSS), Nordstrom (JWN) and other department store peers in recent years, while Sears, JCPenney and Neiman Marcus have filed for bankruptcy.

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