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☆ Fact check: Trump tells ‘mind-bogglingly nonsensical’ story about the New York Stock Exchange
▼ + stars: | 2024-03-25 | by ( Daniel Dale | ) edition.cnn.com time to read: +7 min

Facts First: The stock exchange on which the Trump Media & Technology Group is being listed, the Nasdaq, is also headquartered in New York. In fact, the Nasdaq and the New York Stock Exchange are located in the same New York City borough of Manhattan. He said: “Like, what?”“I hope somebody advising President Trump informs him that the same investor protection rules that safeguard investors of the New York Stock Exchange also safeguard investors on the Nasdaq Stock Market,” Macey said. Colangelo served as acting associate attorney general in the first months of the Biden administration in early 2021 and then as principal deputy associate attorney general. As acting associate attorney general, he was third in command of the department – never the top official there, as Trump has previously claimed.

Persons: Donald Trump, ”, ” Jonathan Macey, Macey, Trump, ” Macey, Letitia James, Attorney Alvin Bragg, ‘ I’m, Lynn Martin, Stacey Cunningham, Sharon Bowen, Biden, Matthew Colangelo, “, Joe Biden, Bragg, Colangelo, Biden James, Jack Smith, Smith, General Merrick Garland, Garland, – Organizations: Washington CNN, Trump Media & Technology Group, New York Stock Exchange, Trump Media & Technology, Nasdaq, NYSE, “, Yale Law School, New, Manhattan, Attorney, Trump Media, Technology Group, U.S . Securities, Exchange Commission, Biden, Department, Trump, New York, federal Justice Department, DC, Justice Department Locations: New York, York City, Manhattan, York, Macy’s, Fulton County , Georgia, New York , Georgia, Florida, Washington

☆ US Navy warships can defeat exploding naval drones today, but these deadly systems are evolving
▼ + stars: | 2024-03-23 | by ( Jake Epstein | ) www.businessinsider.com time to read: +12 min

Ukraine has found success at sea by using naval drones packed with explosive to batter Russia. AdvertisementIn two conflicts separated by more than 1,000 miles, US friends and foes alike have turned to a deadly weapon to defeat their enemy's warships: small naval drones packed with explosives. The USS Dwight D. Eisenhower conducts flight operations in response to Houthi activity in the Red Sea on Feb. 23. In other words, there are ways that warships can protect against, evade, and ultimately defeat naval drones. Naval drones can potentially carry a large payload, and if they manage to get through undetected and hit a ship, "there could be significant damage."

Persons: —, Bradley Martin, Sam Tangredi, Ivan Lukashevych, Dwight D, Eisenhower, Tangredi, Archer Macy, Russia hasn't, Sergey Kotov, Macy, USVs, Martin, They're, Arleigh Burke, John Finn, Lewis, Clark, Cesar Chavez, AKE, Justin Stack, Shaan Shaikh, Shaikh Organizations: Former US Navy, Service, US Navy, AP, BI, Security Service, Former Navy, US, Sea Fleet, Ministry of Defense, Navy, Aircraft, Seahawk, Ruskin, Missile Defense, Center for Strategic, International Studies Locations: Ukraine, Russia, Yemen, Europe, Kyiv, Brig, Screengrab, Iran, —, Russian, Ukrainian, Crimea, Handout, Pacific, China, Washington, Beijing, Pearl, East China, they're

☆ Macy's board could get to the point of selling company as bid rises, says Jan Kniffen
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMacy's board could get to the point of selling company as bid rises, says Jan KniffenJan Kniffen, J. Rogers Kniffen WWE CEO, and Michael Baker, D.A. Davidson retail analyst, joins 'Squawk on the Street' to discuss the latest bid for Macy's, what happens to Macy's if the deal goes through, and Baker's thoughts on Dick's Sporting Goods.

Persons: Jan Kniffen Jan Kniffen, J, Rogers Kniffen, Michael Baker, D.A, Davidson Organizations: Rogers Kniffen WWE, Macy's, Sporting Goods

☆ Arkhouse bid for Macy's nears diligence, but activist to continue proxy fight
▼ + stars: | 2024-03-14 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

A bid from Arkhouse Management and Brigade Capital to take retailer Macy's private has moved closer to due diligence after weeks of delay, but the activist group plans to continue its proxy fight while negotiations progress. Macy's sent the activist a draft confidentiality agreement earlier this week, after months of meetings and engagements between the two sides, Arkhouse said in a proxy filing Thursday. The proxy filing and exhibits show that as the deadline to launch a proxy fight neared, Arkhouse asked Macy's in February to extend its nominating window to "avoid any heightened tension that may accompany" launching a rival slate. The two sides have been negotiating the terms of the agreement this week, the proxy filing shows. In light of the proxy fight and media reports, Gennette said Macy's board was "puzzled by your request for confidential treatment."

Persons: Macy's, Arkhouse, Jeff Gennette, Gennette Organizations: Arkhouse Management, Brigade Capital, Brigade, Fortress Investment Group, One Investment Management, Macy's Inc Locations: New York City, Arkhouse

☆ Watch CNBC's full interview with J. Rogers Kniffen WWE CEO Jan Kniffen and D.A. Davidson's Baker
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with J. Rogers Kniffen WWE CEO Jan Kniffen and D.A. Davidson's BakerJan Kniffen, J. Rogers Kniffen WWE CEO, and Michael Baker, D.A. Davidson retail analyst, joins 'Squawk on the Street' to discuss the latest bid for Macy's, what happens to Macy's if the deal goes through, and Baker's thoughts on Dick's Sporting Goods.

Persons: Rogers Kniffen, Jan Kniffen, Davidson's Baker Jan Kniffen, J, Michael Baker, D.A, Davidson Organizations: J, Rogers Kniffen WWE, Macy's, Sporting Goods

☆ Babies R Us is coming to about 200 Kohl's stores
▼ + stars: | 2024-03-12 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +1 min

Kohl's said Tuesday that it's teaming up with the owner of Babies R Us to bring baby gear, furniture and more to approximately 200 of its stores across the country. In a news release, Kohl's said the first Babies R Us shops will open this August and expand to more stores in the fall. Kohl's said the shops will range from 750 to 2,500 square feet, and will add more brands and merchandise to Kohl's baby category. As of Monday's close, Kohl's shares have fallen about 5% so far this year. Kohl's shares closed on Monday at $27.19, bringing the company's market value to $3.01 billion.

Persons: Kohl's, it's, Joe's Jeans, Anne Klein, Fisher, Price, It's, Tom Kingsbury, Michelle Gass, Levi Strauss, That's Organizations: WHP, Burlington Stores, Franchise Group, Macy's

CNBC embedded with teams from HSI and California Highway Patrol to witness four organized retail crime operations for this investigation. CNBCAt the bottom of organized retail crime rings are boosters — the people who go into stores and take the items. A bin filled with sparkly silver boots that police suspect an alleged San Jose, California, crime ring stole from T.J. Maxx. In a statement, a TJX spokesperson said the company is "thankful" for CHP's efforts and is taking organized retail crime "very seriously." Court records filed in connection with the case provide a rare glimpse into the inner workings of an alleged organized retail crime ring.

Persons: Michelle Mack, Mack, Michelle Mack's, Louis Vuitton, Adam Parks, they've, Parks, HSI, It's, Joaquin, El, Guzman, Scott Robles, Robles, moisturizer, Allegra, Maxx, Gabrielle Fonrouge, Manny Nevarez, TJX, Michael Ball, Diego, Donna Washburn, Washburn, Mack —, we'll, Charlotte, Estee Lauder, masterminding, Rob Bonta, Kenneth Mack, Bonta, Kimora Lee Gooding texted Michelle Mack, Jan, Gooding, Andrew Barclay, Scott, let's, Kenneth Mack texted Michelle Mack, Michelle Mack texted Alina Franco, Sephora, Prada, Ulta's, Dave Kimbell, Kimbell Organizations: Police, CNBC, Patrol, Homeland Security Investigations, Department of Homeland, New, U.S . Custom House, Operation French, Walgreens, New Orleans Public, Federal, Gillette, CHP, TJX Companies, Bay Area, CNBC Police, Flea, Santa, Attorney, Capitol Flea, L'Oreal, Macy's, Body Locations: San Diego, Bonsall , California, California, Washington , Utah , Oregon, Colorado , Arizona , Illinois , Texas, Florida , Pennsylvania, Massachusetts, Ohio, U.S, Baton Rouge , Louisiana, HSI, New Orleans, Orleans, San Jose, Jose , California, Maxx, Bay, Bay Area, San Jose , California, Santa Clara, Washburn, St, Augustine , Florida, Charlotte Tilbury, Prada, LensCrafters

☆ Why Walmart's quick success in generative AI search should have Google worried
▼ + stars: | 2024-03-10 | by ( Michelle Castillo | ) www.cnbc.com time to read: +4 min

During a call with analysts after its February earnings, Walmart CEO Doug McMillon talked about the gen AI search capabilities in its app. As a technology company, Walmart has to experiment a lot, and in the case of adding generative AI search capabilities, there's a very low cost for failure, she said. AI and search, shopping business model shiftsIt's not only Walmart investing in this type of search in the retail sector. Amazon's AI shopping assistant Rufus lets people have a conversation with the platform about what they need rather than just looking for direct items. "Google is anxious is about search in general, and the question this raises is will it be a death by a thousand cuts for Google Search?"

Persons: Doug McMillon, McMillon, Marc Lore, Sucharita Kodali, Kodali, Sergey Brin, Brin, Rufus, Jacob Bourne, Bourne, it's Organizations: Google, Walmart, Amazon, Insider Intelligence, Ikea, Lowe's

☆ McDonald’s and other restaurant chains look to the Sun Belt for growth as population soars
▼ + stars: | 2024-03-09 | by ( Amelia Lucas | ) www.cnbc.com time to read: +7 min

The chain's sales are "way stronger" in Texas, Arizona and Florida than in midwestern states such as Indiana and Wisconsin, according to Osanloo. For more mature companies such as McDonald's , it means accelerating new restaurant growth in areas where it's now underrepresented. It isn't just restaurants looking to the Sun Belt for sales growth. In addition to well-known chains, Greider has also seen restaurants with chef-driven name recognition traveling south from New York and Chicago. The chain's sales are growing again, according to Brix Holdings CEO Sherif Mityas, making it an opportune time to expand Friendly's footprint.

Persons: Portillo's, Michael Osanloo, you've, Justin Greider, Macy's, Phillips, Manu Steijaert, Greider, they've, that's, Carbone, Friendly's, Sherif Mityas, Mityas, we're, Christine Barone Organizations: Beef, CNBC, Northeast, Sun, Airlines, Dallas, Phillips Edison & Company, JPMorgan, Grill, Major Food Group, Brix Holdings, Brix, Bros Locations: Kissimmee , Florida, Chicago, Texas, Texas , Arizona, Florida, Indiana, Wisconsin, U.S, Midwest, Charlotte, Phoenix, Houston, Dallas, Fort Worth, Atlanta, Florida , Texas , Arizona, Georgia, North Carolina, New York, Miami, Massachusetts, Mississippi, Minneapolis, Southern California, California, Virginia

☆ Stocks making the biggest moves premarket: Super Micro Computer, Deckers Outdoor, Macy's and more
▼ + stars: | 2024-03-04 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Super Micro Computer , Deckers Outdoor — Shares of Super Micro Computer and Deckers Outdoor jumped 12% and 5%, respectively, after S & P Dow Jones Indices said Friday the two companies would be added to the S & P 500 later this month. They will replace Whirlpool and Zion Bancorp, which will move to the S & P MidCap 400 index as of the March 18 open. Macy's — Macy's stock skyrocketed nearly 17% after Arkhouse Management upped its buyout offer for the department store chain to $24 from $21 a share, or about $6.6 billion. Crypto stocks – Companies whose performance is tied to the price of bitcoin rose in premarket trading after the cryptocurrency touched another two-year high . Spirit AeroSystems , Boeing — Shares of the fuselage maker rose nearly 3%.

Persons: Dow, CleanSpark, AeroSystems, Lyft, Morgan Stanley, Li Auto, Piper Sandler, Brian Mullan, — CNBC's Lisa Han, Fred Imbert, Tanaya, Hakyung Kim, Jesse Pound, Michelle Fox Organizations: Micro Computer, Dow Jones, Whirlpool, Zion Bancorp, Arkhouse Management, Apple, European Commission, Marathon, Iris Energy, RBC, Boeing —, Boeing, Max, —, Citi, Li Auto, Li, Mobile

☆ Stocks making the biggest moves midday: Macy's, Super Micro Computer, Lyft, DoorDash and more
▼ + stars: | 2024-03-04 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Super Micro Computer , Deckers Outdoor — The technology firm and athletic footwear designer respectively popped 27% and nearly 3% after S & P Dow Jones Indices announced Friday that the two stocks would be added to the S & P 500 on March 18. Super Micro Computer and Deckers Outdoor will replace Zions Bancorpation and Whirlpool , which will move to the S & P MidCap 400 Index. Macy's — Shares skyrocketed 16% after Arkhouse Management said it and Brigade Capital Management have raised their offer for the department store . DoorDash — Shares jumped more than 5% after RBC upgraded the food delivery company to outperform from sector perform. Lyft — The ride-sharing platform added 6% after RBC upgraded the stock to an outperform rating from sector perform.

Persons: Dow, Zions, —, Lyft, Morgan Stanley, Li, Piper Sandler, Ford, CNBC's Michelle Fox, Alexander Harring, Hakyung Kim, Tanaya Macheel, Yun Li, Jesse Pound, Samantha Subin Organizations: Micro Computer, Dow Jones, Whirlpool, Arkhouse Management, Brigade Capital Management, Apple, European, Miners, Marathon Digital, Cipher Mining, Iris Energy, RBC, Kyverna Therapeutics, Wells, JPMorgan, Ferrari —, Citi, Li Auto, Dutch Bros, American Airlines —, Max Locations: Wells Fargo

☆ Macy's and Best Buy are banking on small-format stores to lower costs and boost consumer convenience amid an ever-shifting retail landscape
▼ + stars: | 2024-03-04 | by ( John L. Dorman | ) www.businessinsider.com time to read: +2 min

Both announced last week that they would open more small-format locations. In recent years, Macy's opened eight small-format stores called Market by Macy's, the company's foray into off-mall boutique-sized locations, along with a small-format Bloomingdale's concept called Bloomie's. Last October, the company announced it was expanding its small-format stores, aiming to add 30 locations by the end of 2025. Meanwhile, Best Buy is set to overhaul its in-store experience for customers as it also eyes a retail landscape where small-format stores are becoming more prevalent. "Second, we will test our ability to close a large-format store and open a small-format store nearby, thereby maximizing physical store retention through convenience."

Persons: —, Macy's, Tony Spring, Corie Barry Organizations: Service, The Washington, Business, Nordstrom, Target, The New York Times, Macy's

☆ Jim Cramer says these 4 stocks are better AI plays than red-hot Super Micro Computer
▼ + stars: | 2024-03-04 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Super Micro Computer : Shares surged nearly 25% on Monday after the artificial intelligence server maker was selected late Friday to join the S & P 500 later in March. The gains push its year-to-date ascent to almost 300% and its 12-month increase to nearly 1,050%, amid booming interest in stocks that benefit from AI adoption. "This is too much," Cramer said, referring to Super Micro's stock surge. Arm Holdings is another Nvidia-adjacent investment idea, Cramer said.

Persons: Jim Cramer's, Cramer, it's Dell, Marc Bitzer, Tony Spring Organizations: CNBC, Club, Nvidia, AMD, Design Systems, Holdings, Cramer's Charitable Trust, Whirlpool, Arkhouse Management, Brigade Capital Management, JetBlue Airways, Spirit Airlines, Airlines Locations: Cramer's

☆ We're hitting an inflection point for all of retail, says JPMorgan's Matthew Boss
▼ + stars: | 2024-03-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're hitting an inflection point for all of retail, says JPMorgan's Matthew BossMatthew Boss, JPMorgan equity research analyst, joins 'Closing Bell' to discuss his bull case for Macy's and his overall retail playbook.

Persons: JPMorgan's Matthew Boss Matthew Boss, Macy's

☆ Arkhouse's Gavriel Kahane on Macy's bid: Our business plan is not to close stores
▼ + stars: | 2024-03-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailArkhouse's Gavriel Kahane on Macy's bid: Our business plan is not to close storesCNBC’s Leslie Picker with Gavriel Kahane, Arkhouse managing partner, joins 'Power Lunch' to discuss Arkhouses's bid to buy Macy’s.

Persons: Gavriel Kahane, CNBC’s Leslie Picker, Arkhouse Organizations: Macy's

☆ Arkhouse, Brigade raise Macy's buyout bid to $6.6 billion
▼ + stars: | 2024-03-04 | by ( ) www.cnbc.com time to read: +1 min

Cars sit parked in front of a Macy's store at Bay Fair Mall on February 27, 2024 in San Leandro, California. Arkhouse Management, a real-estate-focused investing firm said on Sunday it and Brigade Capital Management have raised their offer for Macy's after the department store chain rebuffed their prior proposal as too low. "The Macy's Inc Board will carefully review and evaluate the latest proposal," Macy's said in a separate statement. Like other legacy department store operators, Macy's has struggled to compete against younger, online competitors or peers with smaller brick-and-mortar footprints. This has given Arkhouse and Brigade an opening to put pressure on Macy's to explore a sale.

Persons: Arkhouse, Macy's Organizations: Arkhouse Management, Brigade Capital Management, Macy's Locations: San Leandro , California

☆ It's not just you – stores are cutting back on product variety and how many choices you can make
▼ + stars: | 2024-03-03 | by ( Katie Balevic | ) www.businessinsider.com time to read: +2 min

Stores are cutting back on how many varieties of products they opt to offer. Retailers are shifting to offering customers less variety on products with questionable success and doubling down on bestsellers, instead, Axios reported. Some chains like Macy's and Kohl's are slimming down their in-store product options and offering a wider variety of products online, Axios reported. Some retailers reported that customers didn't seem to mind that slashed products never returned to the shelves, The Wall Street Journal reported. Experts believe the slimmed-down choices could also help reduce stress for shoppers, Axios reported.

Persons: —, Axios, Coke, Cherry, Neil Saunders Organizations: Service, Daily, Business, Street Journal

☆ Activist Investor’s Group Raises Bid for Macy’s
▼ + stars: | 2024-03-03 | by ( Lauren Hirsch | Jordyn Holman | ) www.nytimes.com time to read: +1 min

The activist investor group that is seeking to buy Macy’s increased the pressure on the department store chain on Sunday, raising its offer and disclosing additional details about its financing plans. Arkhouse Management and Brigade Capital Management said in a news release that they were now offering $24 per share, valuing the retailer at $6.6 billion. The new offer is up from the $21 a share they last put forward and a 33.3 percent premium to Macy’s closing share price of at $18.01 on Friday. Arkhouse and Brigade named additional investors they had brought on as equity partners, Fortress Investment Group and One Investment Management. The investor has since nominated nine people to Macy’s board.

Persons: Arkhouse Organizations: Arkhouse Management, Brigade Capital Management, Brigade, Fortress Investment Group, One Investment Management Locations: Macy’s

☆ Premarket stocks: Retailers warn Wall Street to expect less shopping this year
▼ + stars: | 2024-03-01 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Lowe’s: The home improvement giant projected total sales of $84 billion to $85 billion for 2024 in fourth-quarter results reported on Tuesday. Mortgage rates edge closer to 7%, dampening start of spring homebuying seasonUS mortgage rates climbed for the fourth week in a row, inching closer to 7% just as peak homebuying season gets underway, reports my colleague Anna Bahney. “Mortgage rates continued their ascent this week, reaching a two-month high and flirting with 7% yet again,” said Sam Khater, Freddie Mac’s chief economist, in a statement. Since reaching a 20-year high of 7.79% in October, mortgage rates have been slowly falling. But in recent weeks, as the market absorbs expectations that the Federal Reserve will not cut its benchmark lending rate until later this year, mortgage rates have trended higher.

Persons: they’re, ”, Marvin Ellison, Macy’s, Tony Spring, Corie Barry, ’, ” Barry, Diksha Madhok, Hanna Ziady, “, Thamashi De Silva, Knight Frank, Read, Anna Bahney, Freddie Mac, Sam Khater, Freddie Mac’s, Khater Organizations: CNN Business, Bell, New York CNN — Companies, Federal Reserve, Commerce Department, United States’s, Gross, Capital Economics, “ Locations: New York, That’s, India

☆ Here are Thursday's biggest analyst calls: Tesla, Apple, Microsoft, Delta, Disney, Snowflake, Okta, Salesforce & more
▼ + stars: | 2024-02-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +10 min

Goldman Sachs reiterates Salesforce as buy Goldman said it's standing by its buy rating following the company's robust earnings report on Wednesday. "Multiple high-profile catalysts should double revs by FY28 & support an Outperform rating with a $54 PT." "We initiate coverage of Gates Industrial (GTES) with a Buy rating and $21 price target. The more aggressive stance follows a near week long sell-off in COLD shares following 4Q results and initial 2024 guidance." Goldman Sachs reiterates Microsoft as buy Goldman said it's standing by its buy rating after a meeting with Microsoft investor relations.

Persons: Jefferies, Roth, Roth MKM, Morgan Stanley downgrades Snowflake, Morgan Stanley, Goldman Sachs, Salesforce, Goldman, it's, TD Cowen downgrades Macy's, Telsey, TD Cowen, Wells, Needham, " Jefferies, Tesla, Coupang, Baird, Cantor Fitzgerald, Cantor, Gates, Piper Sandler, Piper, Raymond James, William Blair, Gordon Haskett downgrades, Haskett, Frank Slootman's Organizations: Jefferies, Barrick Gold, NEM, UBS, Apple, Mar, Bitdeer Technologies, BTC, Citi, United Airlines, Delta, Delta Air Lines Inc, DAL, Deere & Company, American Airlines Citi, Catalyst Watch, Reliance, Star India, JV, UBS downgrades Republic Services, Downside, RBC, Xenia Hotels, Resorts, Deutsche Bank, Deutsche, Products, Gates, NTR, LXU, UW, Bank of America, underperform Bank of America, Realty Trust, Fidelity, Korn, Microsoft, Macquarie Locations: U.S, China, American's, DIS's, Xenia, Federal, Korea

However, the company also said it sees single-digit revenue growth for fiscal 2025. UBS reiterated a neutral rating alongside its $310 per share price target on Salesforce, or more than 3% upside ahead. Product revenue growth of 33% year over year in the fourth-quarter was also below Wall Street estimates. Murphy noted there's a disconnect between what Barrick has accomplished in the past five years and its stock price. "We see asset disposals and cost improvements as likely to reverse share price weakness as the market recognizes the strength of the asset portfolio."

Persons: Morgan Stanley, Snowflake, Jefferies, TD Cowen downgrades Macy's TD Cowen, Oliver Chen, Macy's, — Brian Evans, Brad Sills, Brian Evans, AutoNation Morgan Stanley, AutoNation, Morgan Stanley's, Mike Manley, Adam Jonas, Salesforce, Amy Weaver, Goldman Sachs, Kash Rangan, Bank of America's Brad Sills, Morgan Stanley downgrades Snowflake, Snowflake's, Frank Slootman, Keith Weiss, Matthew Murphy, Murphy, Fred Imbert Organizations: CNBC, Barrick, Mining, Bank of America, of America, TAM, Bank of America's, UBS, StreetAccount, Jefferies, Barrick Gold, Newmont, Newcrest Locations: Africa, East

☆ Jim Cramer's quick thoughts on cybersecurity stocks, Disney, and our portfolio off-price retail name
▼ + stars: | 2024-02-28 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.

Persons: Jim Cramer, Ernie Herman, Macy's, TJX, Nordstrom, Cramer, UnitedHealth, Linde, Jim Cramer's, Jim Organizations: CNBC, Consumer, Communication Services, Health Care, Tech, TJX Companies, Target, Palo Alto Networks, Disney, ESPN, Apple, Paramount, Anheuser, Busch, Jim Cramer's Charitable Locations: Maxx, Palo Alto, India

☆ Cramer says Macy's turnaround plan could kickstart growth at the department store chain
▼ + stars: | 2024-02-27 | by ( Paulina Likos | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer said Macy's turnaround plan could reinvigorate growth at the historic department store chain. Shares of Macy's rallied 5% on Tuesday after topping earnings estimates for its fourth quarter and full year 2023. The company also announced a multi-pronged strategy that includes prioritizing top-line growth, accelerating its position in the luxury market, and simplifying its operations. Spring called for the closure of up to 150 underperforming Macy's locations while accelerating the growth of Bloomingdale's, its higher-end brand that tends to deliver better same-store sales, and beauty store chain Bluemercury. "Among Macy's Bloomingdale's and Bluemercury … it would make it a more upscale company and people like that," Cramer said.

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

☆ Macy’s posts another quarter of falling sales as it unveils strategy to get back to growth
▼ + stars: | 2024-02-27 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

Macy's on Tuesday said sales fell nearly 2% in the holiday quarter, as the 166-year-old department store operator unveiled its strategy to get back to growth. Macy's plans to close about 150 unproductive locations and to prioritize investing in about 350 other namesake locations. In the fiscal year that starts in early 2025, Macy's said it expects low-single digit comparable sales growth on an annual basis, including owned, licensed and marketplace sales. The namesake store's comparable sales on an owned-plus-licensed basis dropped by 4.7%, as the women's shoes and cold weather apparel and accessories categories struggled. At Bloomingdale's, comparable sales declined 1.6% on an owned-plus-licensed basis, as the men's and designer handbag businesses came in soft.

Persons: Spring, Tony Spring, Macy's, Arkhouse Organizations: Arkhouse Management, Brigade Capital Management, LSEG, Revenue Locations: New York City, Macy's

☆ The consumer isn't spending with big brands typically associated with retail, says Sucharita Kodali
▼ + stars: | 2024-02-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe consumer isn't spending with big brands typically associated with retail, says Sucharita KodaliSucharita Kodali, Forrester Research retail analyst, joins 'Squawk Box' to discuss the quarterly earnings results from Lowe's and Macy's, what they say about the U.S. consumer, and more.

Persons: Sucharita Organizations: Forrester Research

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