Archive for the 'Macy’s' Category

Blockbuster To File Chap. 11…Or Will It?

In a regulatory filing yesterday, Blockbuster Inc. mentioned that it would have to file for bankruptcy if it can’t deal with its $1-billion-plus debt load. Not much of a surprise there.

But CEO James Keyes, in an interview with Bloomberg, discounted that language in the filing, saying it was required by the company’s attorneys. He didn’t deny, however, the company’s annual lost last year of $558.2 million.
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Aeropostale Trumps Macy’s as a Brand?

We know that Aeropostale fares well in the recession and posts impressive sales due to its kindly priced apparel that connects with its teen audience. But as a brand name is it really more valuable than Macy’s?

Well, that’s the case, according to firm Interbrand Design Forum, which put out a list of the 50 strongest retail brand names in the country. It’s list has Aeropostale at number 35, while Macy’s is ranked 50th.
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Department-Store Closures on the Horizon

Department store sales are improving and many of the big chains are doing a good job controlling inventories after a dismal start to the recession. But for this to continue, they’re probably going to start closing some doors, according to one analyst.

“We’ll see more stores close than open in 2010,” says Walter Stackow, who follows retail for Manning & Napier, in a Reuters interview.
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Major Retail Bankruptcies Not on Horizon

A recent Fitch Ratings report predicts a holiday season that’s better than some worst-case scenarios out there. It also says that due to liquidity improvements, we’re not likely to see retailers file the same number of bankruptcies that we did in 2008 and early this year.

However, the outfit does recognize that the consumer is still strapped. Fitch expects unemployment to reach 10.5% next year, and credit will remain tight.
Continue reading ‘Major Retail Bankruptcies Not on Horizon’

Are Rent Reductions Really Happening?

Every day we see more and large chains releasing reports that they are seeking rent reductions with their landlords.

Recently we’ve heard from chains as diverse as Williams-Sonoma, Quiznos, Charming Shoppes and others. Macy’s is one of the few stores to come out and say it isn’t engaging in this practice, but don’t they pay way less than in-line tenants in the first place?
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February Another Tough Sales Month

Analysts are predicting that most retailers had another tough sales month in February.

Department stores and apparel chains are seen getting hit the hardest, with same-store sales drops forecast at 10.1% and 8.6% respectively, according to one article.
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Department Stores To Have a Rough 2009

It looks like a rocky year ahead for department stores.

The bulk of them will start reporting their quarterly earnings over the next few days, and most in the sector aren’t expecting good news…at least until some time next year. “I don’t think we are planning for a quick recovery,” J.C. Penney CEO Mike Ullman said in one article.
Continue reading ‘Department Stores To Have a Rough 2009’

Will Macy’s Restructuring Work?

So Macy’s has just introduced a detailed new plan that management hopes will “position the company for increased sales, profitability and cash flow,” reducing expenses by about $400 million a year.

As part of the initiative, the department-store company will lay off about 7,000 positions across its operations, with the biggest cutbacks taking place in its central offices.
Continue reading ‘Will Macy’s Restructuring Work?’

Report: Macy’s Closing Stores

The Wall Street Journal is saying that Macy’s will close 10 of its underperforming stores. (NOTE: Macy’s has since announced that it is closing 11 stores.) Sure, it’s not very many compared to the 860 they operate in total, but that’s still the square footage of about two regional malls, right?

Macy’s is expected to make the announcement today, so maybe it will name the store locations and when they will close.
Continue reading ‘Report: Macy’s Closing Stores’

Macy’s Shoppers Are Obama Fans

We came across this fun survey recently that we thought you’d might enjoy.

A research firm asked shoppers at five chains, Wal-Mart, Kohl’s, JCPenney, Macy’s and Target, who they would choose for president. The strongest sentiment for a candidate was pushed by Macy’s consumers, 47.2% who said they are voting for Barack Obama.
Continue reading ‘Macy’s Shoppers Are Obama Fans’

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November 2020

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