Latest Macy's Inc News
Hexcel, WD-40 fall; Macy's, Roblox rise, Wednesday, 4/10/2024
NEW YORK (AP) — Stocks that traded heavily or had substantial price changes on Wednesday: Hexcel Corp., down $8.81 to $62.34. The maker of lightweight composite materials named a new CEO to replace Nick Stanage when he retires at the end of 2024. WD-40...
Macy's names 2 independent directors as part of agreement with activist investor
NEW YORK (AP) — Macy's said Wednesday it has named two independent directors to its board that were pushed by activist investor Arkhouse Management, ending a proxy fight that aimed to replace most of the board and to acquire the iconic chain. Macy's said the directors — Ric Clark...
US applications for jobless claims hold at healthy levels
U.S. applications for jobless benefits were unchanged last week, settling at a healthy level as the labor market continues to show strength in the face of elevated interest rates. Unemployment claims for the week ending March 2 were 217,000, matching the previous week's revised...
Macy's, United Rentals rise; Apple, Spirit Airlines fall Monday, 3/4/2024
NEW YORK (AP) — Stocks that traded heavily or had substantial price changes on Monday: Apple Inc., down $4.56 to $175.10. The European Union has fined the iPhone maker nearly $2 billion for breaking competition laws. Spirit Airlines Inc., down 70 cents...
Saks CEO Marc Metrick on how he's tackling online return fraud, a growing industrywide issue
NEW YORK (AP) — At Saks Fifth Avenue’s return area at its Manhattan flagship, shoppers now see a camera and signage highlighting the enhanced video surveillance and a new policy: customers must now show a photo ID. The company is also looking at ways to better scrutinize returned...
Arkhouse and Brigade up Macy's takeover offer to $6.6 billion following rejection of previous deal
NEW YORK (AP) — Arkhouse Management and Brigade Capital Management are upping their offer to acquire Macy's in a deal now valued at $6.6 billion. The investment firms announced Sunday that they had submitted an all-cash proposal of $24 for each of the remaining shares in Macy's...
US applications for jobless benefits rise but remain historically low despite recent layoffs
More Americans applied for jobless benefits last week, but layoffs remain historically low even as more high-profile companies have announced job cuts this year. Applications for unemployment benefits rose by 13,000 to 215,000 for the week ending Feb. 24, the Labor Department...
Stock market today: Asian stocks lower after Wall Street holds steady near record highs
HONG KONG (AP) — Asian markets were mostly lower on Wednesday after U.S. stocks held near their record levels in a quiet day of trading. U.S. futures and oil prices fell. Japan’s benchmark Nikkei 225 edged 0.1% lower to 39,230.50. Chinese markets...
Macy's to close 150 namesake stores as sales slip, pivot to luxury with new Bloomingdale's locations
NEW YORK (AP) — Macy's will close 150 unproductive namesake stores over the next three years including 50 by year-end, the department store operator said Tuesday after posting a fourth-quarter loss and declining sales. As part of the strategy, Macy's aims to upgrade its remaining...
How major US stock indexes fared Tuesday, 2/27/2024
Stocks held relatively steady on Wall Street near their record levels. The S&P 500 managed a gain of 0.2% Tuesday. The Dow Jones Industrial Average fell 0.2%, and the Nasdaq composite rose 0.4%. Macy’s rose after unveiling a restructuring plan, and Norwegian...