Macy's to close 150 stores, as concerns mount about the retailer's future скачать в хорошем качестве

Macy's to close 150 stores, as concerns mount about the retailer's future

Macy's (M) seeks to shutter 150 of its "underproductive" retail locations over the next several years into 2026, outlined in its fourth-quarter earnings report. The retail chain rebuffed a $5.8 billion buyout offer from activist investors in January. Morningstar Equity Analyst David Swartz explains the message this sends for new CEO Tony Spring — who began his role as chief executive in early February — while also examining Macy's business model. "I would have to say this is a disappointing way to start out a new job as CEO at Macy's, having to close 150 stores and lay off a lot of people," Swartz tells Yahoo Finance. "That doesn't exactly generate a lot of excitement among investors or employees, I would imagine. And, so, at this point, it's hard to have a lot of confidence at all on Macy's turnaround plan." About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. Get the latest news and data at finance.yahoo.com Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) Follow Yahoo Finance on social: X:   / yahoofinance   Instagram: https://www.instagram.com/yahoofinanc... TikTok: https://www.tiktok.com/@yahoofinance?... Facebook:   / yahoofinance   LinkedIn:   / yahoo-finance