Jeff Gennette

Macy’s Raises $4.5 Billion in New Financing
Credit & Capital

Macy’s Raises $4.5 Billion in New Financing

The company said its reopened stores are outperforming.
By Lauren Muskett | June 9, 2020
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Macy’s to Close 125 Stores, Cut 2,000 Corporate Jobs
Strategy

Macy’s to Close 125 Stores, Cut 2,000 Corporate Jobs

The closings are part of the retailer’s turnaround strategy that aims to find $1.5 billion in annual cost savings by the end of 2022.
By Lauren Muskett | February 5, 2020
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Macy’s Posts First Comp Sales Drop in 2 Years
Financial Reporting

Macy’s Posts First Comp Sales Drop in 2 Years

“The mall is getting more toxic," one analyst warns. "Mall traffic will likely continue to wane over the years ahead.”
By Matthew Heller | November 21, 2019
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Macy’s Shares Fall 13% on Big Earnings Miss
Financial Performance

Macy’s Shares Fall 13% on Big Earnings Miss

Same-store sales improved in the second quarter but profit was hit by heavy markdowns to clear unsold merchandise.
By Matthew Heller | August 14, 2019
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Macy’s to Cut Top Jobs as Part of Savings Plan
Financial Performance

Macy’s to Cut Top Jobs as Part of Savings Plan

The layoffs of about 100 senior-level staff will allow the retailer to move faster, reduce costs, and be more responsive to changing customer expectations.
By Matthew Heller | February 26, 2019
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Macy’s Ends Same-Store Sales Losing Streak
Turnarounds

Macy’s Ends Same-Store Sales Losing Streak

Comparable sales rose 1.3% in Q4 as the retailer's renewed emphasis on apparel helped bring in more shoppers and persuaded them to spend more.
By Matthew Heller | February 27, 2018
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Macy’s Comp Sales Drop 3.6%, Earnings Beat
Financial Performance

Macy’s Comp Sales Drop 3.6%, Earnings Beat

The same-store sales drop was worse than analysts expected but tight inventory control drove an improvement in profitability.
By Matthew Heller | November 10, 2017
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Macy’s Same-Store Sales Decline Slows in Q2
Financial Performance

Macy’s Same-Store Sales Decline Slows in Q2

The struggling retailer's stock fell 10%, apparently reflecting investor doubts over the progress of its turnaround efforts.
By Matthew Heller | August 11, 2017
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Macy’s Comp Sales Fall for 9th Straight Quarter
Financial Performance

Macy’s Comp Sales Fall for 9th Straight Quarter

The retailer's shares plunge 17% as the disappointing Q1 report added "to the sense that Macy's is on a slippery slope."
By Matthew Heller | May 12, 2017
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