Macy's Terminates Talks With Arkhouse Management And Brigade Capital Amid Financing Uncertainty
(RTTNews) - Macy's, Inc. (M) announced Monday that its Board of Directors has unanimously determined to terminate discussions with Arkhouse Management Co. LP, and Brigade Capital Management, LP following months of engagement with then on an acquisition proposal.
Macy's said the discussions have failed to lead to an actionable proposal with certainty of financing at a compelling value.
Macy's noted that the Board intends for the management team to return its full focus to enhancing shareholder value through the execution of the Company's "A Bold New Chapter" strategy.
The Macy's, Inc. Board and management team have engaged in good faith with Arkhouse and Brigade for more than seven months since their initial outreach in December 2023 expressing interest in acquiring the Company.
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Target, TJX, Macy's Q2 Earnings Top Estimates
Retailers Target, TJX and Macy's reported Wednesday profits for the second quarter that topped analysts' estimates. Quarterly revenues at Target and TJX also beat estimates, while it misses by a whisker at Macy's. The improved results at the retailers were driven by gross margin expansion. Target and TJX raised its earnings guidance for the full year, while Macy's maintained its earnings outlook.
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Pred 125 dňami
Macy's Slips To Loss, Warns On FY24; To Close 150 Stores
Macy's, Inc. reported Tuesday a loss in its fourth quarter, compared to prior year's profit, amid weak sales. The latest results were hit by around $1 billion charge mainly related to the around 150 store closures planned as part of its newly announced strategy, A Bold New Chapter. Further, the Omni-channel fashion retailer issued fiscal 2024 outlook, expecting weak profit and sales.
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Pred 301 dňami
Macy's Q3 Results Top Estimates; Narrows FY23 Outlook Range
Omni-channel fashion retailer Macy's, Inc. (M) reported Thursday a third-quarter net income of $43 million or $0.15 per share, sharply lower than $108 million or $0.39 per share in the prior-year quarter.
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Pred 404 dňami
Macy's, Dollar General Q1 Profits Decline
Retailers Macy's, Inc. (M) and Dollar General Corp. (DG) reported on Thursday that net profits for the first quarter declined from last year, with Macy's topping estimates, while Dollar General missed it. Net sales at both retailers missed expectations. Both Macy's and Dollar General also slashed their guidance for the full-year 2023.
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Pred 572 dňami
Best Buy, Macy's Q4 Results Top Estimates; Big Lots Slips To Loss In Q4
Retailers Best Buy Co., Inc. (BBY) and Macy's, Inc. (M) reported on Thursday profits for the fourth quarter that decreased from last year, but results for the quarter topped analysts' estimates. Meanwhile, Big Lots, Inc. (BIG) slipped to a loss, but the loss came in narrower than expectations.
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Pred 663 dňami
Macy's, Kohl's Q3 Results Top Estimates, While Children's Place Adj. EPS Missed
Omni-channel fashion retailer Macy's, department store chain Kohl's and specialty apparel retailer The Children's Place reported on Thursday that net profit for the third quarter approximately halved from last year, primarily on lower margins and higher expenses, apart from a single-digit percentage drop in net sales.
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Pred 768 dňami
Macy's To Now Bring Toys"R"Us Brand To Every Macy's Store In The US
Macy's, Inc. (M) announced Monday that it has expanded its partnership with WHP Global to bring the Toys"R"Us brand to every Macy's store in America this holiday season. This comes nearly a year after the expansive assortment of Toys"R"Us products were made online exclusively at macys.com/toysrus and ToysRUs.com, powered by Macy's digital and fulfillment ecosystem.
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Pred 890 dňami
Canadian Dollar Rises Against Majors
The Canadian dollar strengthened against other major currencies in the Asian session on Wednesday.
The Canadian dollar rose to more than a 4-1/2-month high of 0.8943 against the Australian dollar, from yesterday's closing value of 0.8955.
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Pred 6 h 14 min
