All Macy's articles
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News briefs
Macy’s names two independent directors in agreement with Arkhouse
Macy’s has appointed two new independent directors, Richard Clark and Richard Markee, to its board of directors, effective immediately. The appointments follow the board’s engagement with Arkhouse Management, resulting in the withdrawal of the latter’s director nominations and ending a proxy contest. Arkhouse ignited the proxy battle in February after ...
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News briefs
Macy’s head to retire in February 2024
Macy’s said that its chairman and chief executive officer, Jeff Gennette, plans to retire in February 2024 after serving the company for 40 years. It added that Tony Spring, Macy’s’ executive vice president and Bloomingdale’s chairman and chief executive officer, has been appointed by the board of directors as the ...
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News briefs
Macy’s cuts FY guidance on deteriorating consumer spending
In the second quarter ended July 30, the net sales of the American department store chain Macy’s slipped to $5.600 billion dollars from $5.647 billion a year earlier as comparable sales were down by 1.5 percent for owned stores and down by 1.6 percent for owned and licensed stores. Digital ...
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News briefs
Macy’s to launch a digital marketplace
The U.S. retailer Macy’s plans to launch in the second half of 2022 a digital marketplace to build on its digitally led omnichannel model. The company is partnering with Mirakl to power the platform. “The new marketplace will significantly expand the company’s assortment in existing categories and brands and introduce ...
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News briefsAmazon becomes top clothing retailer in U.S.
Amazon overtook Walmart to become the top apparel and footwear retailer in the U.S. last year, as online sales jumped during the Covid-19 pandemic, according to research from the American bank Wells Fargo . The e-commerce giant’s apparel and footwear sales in the U.S. grew by about ...
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Article
Macy’s’ credit rating downgraded to ‘BB’ by Fitch
Macy’s credit rating was cut by Fitch , as, like many other American department stores, the retailer suffered from coronavirus-related lockdowns and has seen its leverage increase.
