Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Macy"


25 mentions found


In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMacy's moving out of shopping malls in favor of small 'Market by Macy's' storesCNBC's Melissa Repko joins 'Power Lunch' to talk about Macy's new 'Market by Macy's' stores as the retail chain moves out of traditional shopping malls.
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.
Analysts at a major Wall Street research firm see multi-year growth and share gains ahead for off-price retailers. Under this scenario, lower-income consumers will choose to spend their money at off-price retailers. The analysts like Ross Stores (ROST) best, and called Burlington Stores (BURL) high-risk, high-reward, with a multi-year turnaround story. Bank of America, in a note this week, emphasized that the off-price retailers, including TJX, will be eager to take over the additional closed Bed Bath & Beyond locations. Bottom line We're encouraged to hear from Bernstein that lower-income consumers might be ready to spend more at off-price retailers, leading the analysts to say they would view "Q1 off-price weakness as an entry point" into the stocks.
In strip malls across the country, Bed Bath & Beyond stores have "Closing Soon" signs. Its shuttered stores will kick off a land grab for retailers hungry for additional space. Bed Bath will join a list of other bankrupt companies, such as Kmart and Sears, that vacated spaces and made way for stores. Former Bed Bath stores could turn into a variety of other retail spaces, said Deborah Weinswig, CEO of Coresight Research, a retail advisory group. Weaker retailers' locations thinned out during the fallout of the Great Recession and again during the Covid pandemic, said James Bohnaker, senior economist with Cushman & Wakefield.
Bed Bath & Beyond said it would sell off its merchandise and then go out of business. Instead, Bed Bath & Beyond expects to offer “deep discounts” on its products as part of its going-out-of-business sales. Bed Bath & Beyond, a staple of wedding registries for years, said customers who registered with Bed Bath & Beyond will eventually have their information transferred to a competitor’s service, where guests can purchase similar items. With stores closed for months, and consumers rethinking their nonessential purchases, Bed Bath & Beyond sales and profit took a hit. Now that the company is going through a liquidation process, Bed Bath & Beyond said it’s the end of the road for the coupons.
Wetzel's Pretzels is launching a new store concept that will sell innovative takes on the typical pretzel. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyCalifornia pretzel chain Wetzel's Pretzels is launching a new store concept specifically targeting Gen Z and millennials. With Twisted, Wetzel's Pretzels will be steering clear of shopping malls. Wetzel's Pretzels CMO Kim Freer told Insider that the company would instead target college towns and power centers, which are outdoor shopping centers with multiple big-box tenants. Wetzel's PretzelsFreer said that Wetzel's Pretzels planned to open around 40 new stores between now and the end of 2023, with at least three being Twisted stores.
Goldman's top trades heading into earnings season
  + stars: | 2023-04-12 | by ( Tanaya Macheel | ) www.cnbc.com   time to read: +2 min
First-quarter earnings season kicks off this week and Goldman Sachs analysts see upward earnings revisions driving several stocks higher. Last quarter, single stock volatility on earnings events were near a decade high, Marshall said. His team expects moves on companies' earnings days to remain elevated "even as non-earnings day moves decline with macro volatility." Its analysts are projecting 7% earnings growth for the first quarter and 5% over the next four quarters. The chipmaker's earnings are projected to fall 7% in the most recent quarter, Goldman said.
Former Walmart CEO Greg Foran used to visit stores every week to observe factors like customer service, inventory levels, in-stock levels, and assortment. Fewer retail CEOs got their start working in storesLowe's CEO Marvin Ellison started his retail career as a Target security guard. Others went through management-training programs operated by department stores. As department stores started facing stiff competition from specialty stores, they scrambled to cut costs. These days, finding a qualified retail CEO seems like one of the hardest jobs to fill, with many companies looking outside the retail industry.
How to earn American Airlines milesThere are myriad means of earning American Airlines AAdvantage miles. American Airlines AAdvantage® MileUp®While not as lucrative as some of the other available American Airlines credit cards, at least the American Airlines AAdvantage® MileUp® doesn't charge an annual fee. Earn miles flying American Airlines and boost your earning with elite statusAside from using co-branded credit cards, one of the best ways to earn American Airlines miles is to actually fly the airline and its partners. Earn miles flying American Airlines' partnersYou can also earn American Airlines miles on over a dozen airline partners. The best ways to redeem American Airlines milesAs with earning American Airlines miles, there are plenty of ways to use AAdvantage miles when the time comes.
Persons: CitiBusiness, Cardholders, gunning, Silver, That's, AAdvantage, American Airlines Miles Worth, you'll, Eric Rosen Eric Rosen, Condé Organizations: Business Insider, Citi, Mastercard, Citi ®, American Airlines, American, AA, oneworld, Barclays, Airlines, AAdvantage, American Airlines Admirals Club, AA itineraries, American Airlines oneworld, Alaska Airlines British Airways Cathay, Iberia Japan Airlines Malaysia Airlines Qantas Qatar Airways Royal Air Maroc Royal Jordanian Airlines S7 Airlines American Airlines, Air, Cape Air China Southern Airlines Etihad Airways Fiji Airways GOL Airlines Hawaiian Airlines, Virgin, British Airways, Etihad, Nike, Hyatt, Marriott Bonvoy, Marriott, Hyatt and American Airlines, Japan Airlines, Qantas, Cathay Pacific, Qatar Airways, Cathay, British, Eagle, Admirals Club, National Geographic, Bloomberg Locations: Iberia, Cape Air, Canada, Hawaii, Alaska, Europe, North America, Asia, Australia, East, Africa, Cathay Pacific, Hong Kong, Japan, China, South Korea, New Zealand, Los Angeles, Kenya, Laos
Finding opportunities in this tricky stock market is no easy task, and Goldman Sachs thinks it might be worth looking at these unloved gems with great potential. The Wall Street bank identified a slew of stocks where its analysts are bullish but most of the Street gave either a neutral or sell rating. These stocks with buy ratings from Goldman analysts have at least 10% upside, based on their price target, and the firm's earnings estimates for these companies are at least 2% above consensus. "These names appear underappreciated by the market and could generate alpha for investors with a contrarian view," Goldman said. Ride sharing giant Lyft is also widely hated by Wall Street, except for Goldman.
Morgan Stanley initiates Sunnova as overweight Morgan Stanley said it sees 124% upside for the solar company. " Morgan Stanley downgrades First Solar to underweight from equal weight Morgan Stanley downgraded the stock mainly on valuation. Bank of America adds Lowe's to the US 1 list Bank of America added the home improvement giant to its top ideas list. Bank of America names Netflix a top second-quarter pick Bank of America said it's bullish on the streaming giant as the second quarter begins. Morgan Stanley downgrades Marqeta to equal weight from overweight Morgan Stanley said in its downgrade of the card payment and solutions company that it sees too many negative catalysts. "
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.
Chevron boosted by OPEC production cuts, says ERShares' Eva Ados
  + stars: | 2023-04-03 | by ( ) 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 EmailChevron boosted by OPEC production cuts, says ERShares' Eva AdosEva Ados, COO of ERShares, joins 'Power Lunch' to discuss the outlook for Chevron, General Electric and Macy's
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.
A road is closed after an oil leak at Marathon Galveston Bay Refinery on October 6, 2021 in Texas City, Texas. Energy stocks — Energy stocks rose broadly Monday after OPEC surprised the market by announcing a production cut. Marathon Oil rose more than 7%, while Halliburton , APA and Occidental Petroleum each gained more than 6%. Extra Space Storage , Life Storage — Extra Space Storage said it would acquire Life Storage in an all-stock transaction for $145.82 per share, an 11.2% premium to where the stock closed Friday. Extra Space shares dropped 4.9% following the announcement; Life Storage shares climbed about 1.7%.
Former Walmart CEO Greg Foran used to visit stores every week to observe factors like customer service, inventory levels, in-stock levels, and assortment. Fewer retail CEOs got their start working in storesLowe's CEO Marvin Ellison started his retail career as a Target security guard. David Swanson/ReutersOf course, times have changed — in the past, many retail CEOs got their start at the store level. As department stores started facing stiff competition from specialty stores, they scrambled to cut costs. These days, finding a qualified retail CEO seems like one of the hardest jobs to fill, with many companies looking outside the retail industry.
UnitedHealth — Shares of the health insurance giant gained about 4% after the Center for Medicare & Medicaid Services on Friday announced updated payment rates. The Wall Street firm said Marqueta is facing a "multitude of headwinds" without an ironed-out renewal deal with Block. Extra Space Storage , Life Storage — Shares of Extra Space Storage fell 5% after the company said it would acquire Life Storage in an all-stock transaction for $145.82 per share, an 11.2% premium to where Life Storage closed Friday. Shares of Life Storage shares rose 3%. Ovintiv – The oil and natural gas exploration and production company saw shares jump 10% after announcing it will acquire certain Midland Basin assets from EnCap Investments for about $4.3 billion.
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, 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.
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.
Photo: Peter Fisher for The Wall Street JournalMacy’s CEO Jeff Gennette joined the company in 1983 and took the helm in 2017. Jeff Gennette , chief executive of Macy’s Inc., one of the world’s biggest department-store chains, is retiring next year after steering it through several crises and handing the reins to one of his lieutenants. Some of those challenges were self-inflicted.
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.
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.
Foot Locker will close 400 stores by 2026 in malls. Anchor vacancies in malls hurt neighbors like Foot Locker and reduce traffic to their stores as well. Eventually, stores like Foot Locker go dark and it becomes harder for the mall to survive. Finding tenants for the 400 Foot Locker spaces will be challenging as big retailers look to stay away from weaker malls. Bed Bath & Beyond will be “much easier to fill than in-mall spaces.”So what happens to all the indoor malls with empty Foot Locker stores and other vacant spaces?
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.
Total: 25