Macys has been offered a buyout of 6 billion but not for the brand for the real estate. so my impression on this buyout is that Jeff the ceo Parasite knew this all along and is walking out the door just as its announced. The board of crooks will get millions in buyout and all you blood , sweat and tears folks will go down with the ship.. this time it wont be women and children first... only the high brass..
think Macys isnt done? go drive to the mall during this time of year and see its is 2/3 empty ! no Santa as some malls also ! so forget cuts its going to be a full bloodbath come Feb. with job cuts.. I knew something was up when they kept promoting useless people into district teams . enjoy your unemployment !
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Our stockrooms are empty. Fixtures are loosely merchandised, no sizes in basic mens underwear or sportswear. home store looks like we are closing.
We have some private lable products but nobody wants that garbage. That is what Target and Kohl's are for. Our store looks like it is the end of January and not the middle of December.
We are loaded with Backstage and toys nothing else.
What minimal inventory? our store was packed the gills with merchandise. We're running out of the main Christmas items (cashmere, sweats).
The investors have the financing to pay for the bid. Read the investment news.
This has been going on for month's.
Why do you think the stores have minimal inventory going into the peak selling season ? The investors want the books to be clean of any and all aged and overstock inventory.
The top executives will all have golden parachutes and will receive millions. They do not care about hourly employees.
The investors want the real estate so then can sell it. They ate not interested in running a retail operation. Especially with Macy's store being in such disrepair.
Low ball bid by around $3B. This is going nowhere.
It was announced yesterday that the investors did prove to have the actua lmoney to buy , however 100% makes sense to dismantly and squeez every penny they can get from investment. I need to ginish looking up, to my knowledge (so far) these investors may not be monster money investors, meaning this may be a risk for them. I would like to remind everyone how Jeff Gennette played a deal during the pandemic with the board: " Mr Humble, I am not taking salary" https://www.forbes.com/sites/walterloeb/2020/07/17/macys-grants-big-9-million-bonuses-after-3900-job-cut/
That's actually ridiculous. It's not at all a given that the investor group would be able to secure the financing. IF the deal gets done it's to take the company out, like L&T. There is more short-term gain in dismantling a company than running it. These are not long-term investors that want to own a dept store. But I doubt that the deal will get done due to the issues with financing.
It was just the matter of time ⏳ this would happen. Instead of filling for bankruptcy, they rather sell the company. Macy's is struggling and also other retailers too.