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It's the fourth activist push at the struggling department store in the last decade. The activist believes that Macy's can cut more from its inventory and sales and administrative costs. Barington pointed to smaller department store operator Dillard's, where it also tilted with management, as an example of effective capital allocation. At the Macy's stores that will remain open beyond early 2027, comparable sales were down 0.9% on an owned-plus-licensed basis, including the third-party marketplace. Correction: A previous version of this article misnamed the private equity firm that Barington Capital has partnered with.

Persons: Capital, Barington, Macy's, Mattel, Hanes, Steve Madden, Hurley Locations: Macy's, U.S

☆ Three key questions that will shape whether Coach and Michael Kors owners will merge
▼ + stars: | 2024-09-12 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +9 min

In this article CPRITPR Follow your favorite stocks CREATE FREE ACCOUNTPedestrians walk past a Coach store and a Michael Kors store. One of the major debates in court has surrounded who are Coach and Michael Kors' true competitors. She said in her experience, Coach, Kate Spade and Michael Kors have never come up in customer surveys or company conversations about the competition. And he said it wouldn't need to worry as much, even if Michael Kors' brand continued to be challenged. "Once they come together, if Michael Kors continues to decline, some of that decline is going to benefit the Coach brand," he said.

Persons: Michael Kors, Scott Olson, Kate Spade, Stuart Weitzman, Capri's Versace, Jimmy Choo, Joanne Crevoiserat, Biden, LVMH, Louis Vuitton, Crevoiserat, she's, fanny, Chanel, Rebecca Minkoff, Suwon Yang, Saint Laurent, Hermes, Loren Smith, Smith, Kors, Capri Organizations: Federal Trade Commission, Capri, FTC, CNBC, Capri's, Burberry, Tapestry, D.C Locations: New York City, Manhattan, Zara, Suwon, Italy, France, Washington, U.S

☆ Stocks making the biggest moves midday: Walmart, Nike, Dell, Tapestry and more
▼ + stars: | 2024-08-15 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +4 min

The firm owned more than 3 million shares of Nike at the end of June, a stake worth roughly $229 million, the filing disclosed. Dell — Shares climbed 7.1% after JPMorgan added Dell to its focus list, noting the potential for upside after a recent pullback. Tapestry adjusted earnings per share of 92 cents, versus analysts' estimates of 99 cents per share, per LSEG. Berkshire holds 132.9 million shares of Sirius XM versus 36.7 million previously. Earnings per share fell to $4.59 in the fiscal second quarter from $7.98 per share a year ago.

Persons: Bill Ackman's, Warren Buffett, Berkshire Hathaway, Ted Weschler, Todd Combs, Alibaba, FactSet, Robinhood, Yun Li, Samantha Subin, Michelle Fox, Pia Singh, Alex Harring, Sean Conlon, Jesse Pound Organizations: Walmart, Nike, Bill Ackman's Pershing, Capital Management, Berkshire, Dell, JPMorgan, Citi, Cisco Systems, Cisco, Deere, Bros, UBS, Deutsche Bank, Lumentum Holdings, Sirius XM Holdings, Sirius XM, Management

CNBC Pro screened for stocks that are already trending downward to determine which stocks might fall further. According to analysts' consensus price targets, these stocks have an estimated downside of 5% or more, and all have a market capitalization of at least $2 billion. Here are the stocks that are already in a correction and still disliked on Wall Street. Shares have slumped 21.5% since May 2023 and — based on analysts' consensus price target — are estimated to decline another 29.1%. Other stocks already in a correction and vulnerable to additional declines include Palantir Technologies , Dillard's , MGE Energy , GameStop and Advance Auto Parts .

Persons: CNBC's David Faber Organizations: Dow Jones, Nasdaq, CNBC Pro, Bank of, FactSet, Fed, Silicon Valley Bank, Regional Banking ETF, CBS, Paramount Global, Skydance Media, Paramount, Palantir Technologies, MGE Energy, GameStop, Advance Locations: Bank of Hawaii, Silicon, Bank

☆ Off-price retail is poised to keep taking market share. Why is TJX's stock stuck?
▼ + stars: | 2024-04-14 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

The ongoing challenges for department stores, which extend back more than a decade, keep playing into the hands of off-price competitors, UBS said. Despite woes at other retailers, TJX stands out as a resilient company well-equipped to avoid many of the industry's challenges. TJX 1Y mountain TJX's stock performance over the past 12 months. One factor keeping a lid on TJX's stock recently may be that it is trading close to its historical valuation, noted Chuck Grom, a consumer and retail analyst at Gordon Haskett. On the other hand, spending at department stores fell 3.7% in March after a 5.2% decline in February, according to Bank of America.

Persons: Jeff Marks, TJX, — TJX, Ernie Herrman, Chuck Grom, Gordon Haskett, Grom, TJX's, Corey Tarlowe, Tarlowe, Jim Cramer's, Jim Cramer, Jim, Jeff Greenberg Organizations: Companies, TJX Companies, Ross Stores, UBS, Burlington Stores, Nordstrom, Marshalls, Home Goods, CNBC, Loop, Jefferies, Bank of America, Universal, Getty Locations: Maxx, Port St Lucie , Florida

☆ Diddy is one of hip-hop's richest and most powerful businessmen. Take a look at his net worth and web of influence.
▼ + stars: | 2024-03-26 | by ( Madeline Berg | Kelsey Vlamis | ) www.businessinsider.com time to read: +10 min

Read previewFederal officials raided the Los Angeles and Miami homes of Sean Combs on Monday. Despite media speculation, neither Mr. Combs nor any of his family members have been arrested nor has their ability to travel been restricted in any way. Mr. Combs is innocent." Within the first two years of the partnership, annual sales grew from 75,000 to 400,000 cases, according to a lawsuit Combs filed against Diageo last year. "She recognized that she was powerless, and that reporting Mr. Combs to the authorities would not alter Mr. Combs's status or influence but would merely give Mr. Combs another excuse to hurt her."

Persons: —, Sean Combs, Combs, Casandra Ventura, Ventura, Cassie, Rodney Jones Jr, Lil Rod, groping, Aaron Dyer, Mr, Diddy, Craig Mack, Faith Evans, Mase, B.I.G, Forbes, Sean John, they'd, DeLeon, He'd, Mark Wahlberg, Ciroc, Ethan Miller, Zack O'Malley Greenburg, Jay, — he's, he's, Kerry James Marshall, Andy Warhol, Keith Haring, Jean, Michel Basquiat, Joi Dickerson, Neal, Jane Doe, Sean Jean Organizations: Service, Federal Homeland Security, AP, Business, Bad Boy Records, Uptown Records, East, Bad, Arista Records, Global Brands Group, Diageo, of, Hulu, Combs Enterprises Locations: Los Angeles, Miami

☆ How Diddy got to be one of hip-hop's biggest businessmen
▼ + stars: | 2024-03-26 | by ( Madeline Berg | Kelsey Vlamis | ) www.businessinsider.com time to read: +10 min

AdvertisementFederal officials raided the Los Angeles and Miami homes of Sean Combs on Monday. Despite media speculation, neither Mr. Combs nor any of his family members have been arrested nor has their ability to travel been restricted in any way. Within the first two years of the partnership, annual sales grew from 75,000 to 400,000 cases, according to a lawsuit Combs filed against Diageo last year. "She recognized that she was powerless, and that reporting Mr. Combs to the authorities would not alter Mr. Combs's status or influence but would merely give Mr. Combs another excuse to hurt her." AdvertisementIn a separate lawsuit filed in November, Joi Dickerson-Neal alleges that Combs drugged and assaulted her in 1991.

Persons: Sean, Diddy, Combs, He's, —, Sean Combs, Casandra Ventura, Ventura, Cassie, Rodney Jones Jr, Lil Rod, groping, Aaron Dyer, Mr, Craig Mack, Faith Evans, Mase, B.I.G, Forbes, Sean Jean, they'd, DeLeon, He'd, Mark Wahlberg, Ciroc, Ethan Miller, Zack O'Malley Greenburg, Jay, — he's, he's, Kerry James Marshall, Andy Warhol, Keith Haring, Jean, Michel Basquiat, Joi Dickerson, Neal, Jane Doe Organizations: Service, Federal, Federal Homeland Security, AP, Business, Bad Boy Records, Uptown Records, East, Bad, Arista Records, Global Brands Group, Diageo, of, Hulu, Combs Enterprises Locations: Los Angeles, Miami

☆ 'Retirement isn't that easy': 3 people on working into their 90s and 100s
▼ + stars: | 2023-11-25 | by ( Morgan Smith | ) www.cnbc.com time to read: +4 min

Jayne Burns, Bob Rohloff and Melba Mebane are part of a fast-growing share of the workforce: Americans working past 75. Many Americans are working into their 70s and 80s — or longer — because of longer life spans, changing attitudes about retirement and insufficient savings. Mebane began working as an "elevator girl" at the Mayer & Schmidt department store in 1949 when she was just 17 years old, through a work-study program at Tyler High School. During her tenure at Dillard's, Mebane had several opportunities to become a manager, but she always turned the offers down. Those friendships, Mebane says, made working at Dillard's "the best job I ever had."

Persons: Jayne Burns, Bob Rohloff, Melba Mebane, Elizabeth HusVar Jayne Burns, Joann, Burns, Dick, Donna Burns, Donna, Terry Mebane Melba Mebane, Mebane, William T, Dillard, Mark Karweick Organizations: Bureau of Labor Statistics, Labor Department, CNBC, Crafts, Mayer & Schmidt, Tyler High School, Dillard's Locations: U.S, Mason , Ohio, Dillard's, Tyler , Texas

☆ Want to pick a winning retail stock this holiday season? Watch for discounts and deflation
▼ + stars: | 2023-11-22 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +9 min

However, he added, they remain more upbeat compared with last holiday season and should spend more on gifts this year. According to FactSet, analysts anticipate there could be upside of more than 20% ahead, based on average price targets. The e-commerce giant is JPMorgan analyst Doug Anmuth's top pick for the holiday season. "We project US e-comm penetration at 23.4% of adj retail sales this holiday season, +90bps above the 22.5% in 2022," he said. "We think beauty has the potential to be a relevant gifting solution for cash-strapped consumers during the upcoming Holiday season," he said.

Persons: Chad Lusk, Alvarez, Lusk, Martis, LSEG, Inna Kuznetsova, Doug Anmuth's, Doug McMillon, Krisztina Katai, Katai, Michael Lasser, Ulta, Lasser, ToolsGroup's Kuznetsova, Marsal's Lusk, Michael Bloom Organizations: Shoppers, CNBC, Walmart, Target, Retailers, Centric Market Intelligence, Amazon, LSEG, JPMorgan, Deutsche Bank, Costco, UBS, Fed, Black Locations: Lusk, Ulta, Wayfair, Williams, Sonoma

☆ Stocks making the biggest moves midday: Gap, Ross Stores, Tenet Healthcare and more
▼ + stars: | 2023-11-17 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Adjusted earnings of 59 cents per share smashed analysts' expectations of 19 cents per share, per LSEG. Revenue also beat estimates, coming in at $3.77 billion compared with the $3.6 billion forecast. Otherwise, the company topped fiscal fourth-quarter earnings and revenue estimates. It now forecasts third-quarter revenue of $108 million to $113 million, lower than prior guidance of $150 million to $165 million. Tenet Healthcare — Shares jumped more than 11% after Tenet Healthcare said it would sell three of its South Carolina hospitals to Novant Health.

Persons: Ross, Dillard's, GitLab, — CNBC's Brian Evans, Alex Harring, Hakyung Kim, Tanaya Macheel, Pia Singh Organizations: Old Navy, Revenue, Brands Holdings, Spectrum Brands, ChargePoint Holdings, Tenet, Tenet Healthcare, Novant Health, Ross Stores, Reuters, Justice Department, Pacific Biosciences, UBS, biosciences, —, ISI, Barclays Locations: South Carolina, California

☆ This 90-year-old woman had the same job for 74 years—her best advice for being happier at work
▼ + stars: | 2023-08-10 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

She retired from her job as a sales associate at Dillard's last month, leaving behind a career that spanned more than seven decades. How her job became her 'second life'For Mebane, her job at Dillard's has always been "more than a paycheck." As a single, working mom, it became a "second life," for her and her son Terry Mebane, he says. "I loved going to work every day," says Mebane, who adds that she never missed a day of work, unless she was really sick. Her best advice for finding a long, fulfilling career is not to take a job simply because it pays well, because "money can disappoint you," Mebane warns.

Persons: Melba Mebane, Mebane, that's, Terry Mebane, William T, Dillard, Drue Dillard Matheny, who's, Terry, — Organizations: Mayer & Schmidt, Tyler High School, Dillard's Locations: Tyler , Texas, Dillard's

☆ Consumer spending trailing consumer sentiment lower. Look at Home Depot
▼ + stars: | 2023-05-16 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Recent consumer sentiment reports have been poor, so it's reasonable to assume the consumer spending backdrop has softened. The company is cutting guidance due to the weaker lumber prices, weather and is also citing "further softening of demand relative to our expectations, and continued uncertainty regarding consumer demand." If we are on the side of the American consumer (I am), then lower lumber prices are good, right? Running shoes are hot. Second case in point: On Holding (ONON), which makes the trendy ON running shoes, is up 94% YTD.

☆ Dillard's downgraded at JPMorgan, citing disappointing fourth-quarter results
▼ + stars: | 2023-02-22 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Investors should sell Dillard's after the department store chain's disappointing quarterly results, JPMorgan said. Analyst Matthew Boss downgraded the Arkansas-based retailer to underweight from neutral, saying there's trouble ahead for the retailer after its fourth-quarter results missed JPMorgan's expectations. Dillard's shares outperformed the past several years. In 2022, the stock advanced more than 30%, far outpacing a 19% decline in the S & P 500. The analyst's forward model shows a 21% earnings per share decline in 2023, and a 9% sequential decline in 2024.

☆ Here are Wednesday's biggest analyst calls: Tesla, Apple, Coinbase, Shopify, Pinterest, Nvidia & more
▼ + stars: | 2023-02-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

"We are upgrading shares of Shopify to BUY from Neutral, as we believe the > 20% selloff post earnings has created an attractive entry point." Morgan Stanley reiterates Home Depot and Walmart as overweight Morgan Stanley said it's standing by its overweight ratings on shares of Home Depot and Walmart after the company's reported earnings on Tuesday. Morgan Stanley also trimmed its price target on Walmart to $160 per share from $161. Morgan Stanley reiterates Apple as overweight Morgan Stanley said the tech giant remains underowned among large-cap institutional investors. Morgan Stanley reiterates Salesforce as overweight Morgan Stanley said expectations are "low" and "mixed" ahead of the company's earnings report.

☆ Stocks making the biggest moves premarket: Netflix, Alphabet, Nordstrom, PagerDuty and more
▼ + stars: | 2023-01-20 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Separately, Barclays upgraded shares of PVH , which owns Tommy Hilfiger and Calvin Klein brands, to overweight. Regeneron Pharmaceuticals — The pharmaceutical giant gained 1% in the premarket after being upgraded to overweight from neutral by JPMorgan. Nordstrom — Shares of the retailer fell 7% in premarket trading after Nordstrom announced that its holiday sales fell 3.5% year over year. Macy's — Retail stocks such as Macy's declined following disappointing holiday sales from Nordstrom. Correction: Nordstrom reported disappointing holiday sales numbers, not its latest quarterly figures.

☆ Stocks making the biggest moves after hours: Netflix, Nordstrom and more
▼ + stars: | 2023-01-19 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +1 min

In this photo illustration the Netflix logo seen displayed on a smartphone screen, with graphic representation of the stock market in the background. Netflix – Shares of Netflix jumped 6.3% after the company's per-share earnings came short of analysts' expectations. Nevertheless, the latest quarterly results showed the streaming service added millions more subscribers in the quarter than Wall Street anticipated. Nordstrom – Nordstrom shares fell 6.5% after the company cut its annual profit forecast for its fiscal year following weak holiday sales. Retail stocks – Following Nordstrom's weak holiday earnings report and year-end forecast, other retailers slumped.

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