NEW YORK—Macy’s Chairman and CEO Jeff Gennette will retire at the end of the fiscal year and will be succeeded by Bloomingdale’s Chairman and CEO Tony Spring. Macy’s owns Bloomindale’s, as well as the cosmetics chain Bluemercury. Gennette, 61, guided the retailer through the pandemic after taking the top job at Macy’s in March 2017….
Macy’s Analysts Break Down Q3 Earnings: ‘Potential For New Value Unlocks’
Macy’s on Thursday reported third-quarter adjusted earnings per share (EPS) of $1.23 on revenue of $5.4 billion. Both numbers topped consensus analyst estimates of 31 cents and $5.2 billion, respectively. Revenue was up 35.3 percent from a year ago. Macy’s reported 35.6 percent comparable-store sales growth, exceeding analyst estimates of 29.3 percent. Online sales were…
Is Macy’s Stock Overvalued or Undervalued?
Macy’s Inc. shares have left the S&P 500 in the dust in 2021, gaining 227.6 percent year-to-date. Macy’s stock has had a wild ride in recent years, but investors may be wondering whether there’s any value in Macy’s shares after the big gains. Earnings A price-to-earnings ratio (PE) is one of the most basic fundamental…
Macy’s to Hire 76,000 Workers for Holiday Shopping Season
Macy’s said on Tuesday it plans to hire about 76,000 full- and part-time workers at its stores, call centers and warehouses ahead of this year’s holiday season, indicating a return to pre-pandemic levels of hiring. The department store chain’s push to hire more workers comes during a major labor crunch in the United States that…
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