Macy's forecasts annual sales below estimates, to shutter 150 stores
Tuesday, 27 February 2024 Macy's forecasts weak sales and plans to close 150 stores as part of a turnaround plan. They aim to monetize assets, face a proxy battle, and have previously closed stores. In the holiday quarter, sales declined and a $1 billion charge led to a loss per share. Macy's fiscal 2024 sales and earnings are below expectations.
On Tuesday, Macy’s projected annual sales and profits below expectations, announcing plans to close approximately 150 stores by 2026 as part of a new strategy to achieve $100 million in cost savings this year.
Macy’s , to Close 150 Stores, Nationwide.
NBC News reports that the retailer announced
a “bold new chapter” as part of a massive reorganization plan. .
This plan includes..
Credit: Wibbitz Top Stories Duration: 01:25Published
US Retail Sales Dropped , More Than Expected in January.
On Feb. 15, the Commerce Department reported that retail sales fell 0.8% for the month, halting a two-month increase streak.
The percentage..
Credit: Wibbitz Top Stories Duration: 01:30Published
Tuesday, 27 February 2024
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