anyone notice that Macys stock price is literally in half now?
was at 21 dollars now under 11 dollars.. all wall street says to sell..
1 reply
The economic outlook is not favorable and the company will be revisiting which stores are go forward in 2024/25. To support the MSF (Macy's Small Format) strategy of opening 30 stores in the next two years, unprofitable locations and those that need significant capital investment to meet brand standards will have to pass new guard rails based on sales trends that will make if challenging for many stores to pass muster.
Stores under review will include previous Neighborhood locations along with those that have leases due for renewal and those where real estate value is greater than ongoing value.