M Stock Recent News

Large retailers Macy's (M) and Lowe's (LOW) both reported their fourth-quarter earnings with mixed results. In addition, the Conference Board's Consumer Confidence reading came in lower than expected for February.

Macy's could potentially shutter the Macy's department store it operates in San Francisco's Union Square area, according to local media reports.

Macy's is evaluating closing its San Francisco Union Square flagship, weighing the real estate value of the property against the potential for future sales growth at the store, a person familiar with the matter told Reuters.

Iconic department-store chain Macy's today announced that it is preparing to close 150 stores after a disappointing holiday quarter that saw sales fall almost 2%. The announcement of the store closures is part of a turnaround plan that the company says is “a bold new chapter” in its history.

Macy's released its full-year sales results which showed revenue down 5.5% in 2023 compared to 2022. More concerning for the department store is that comparable store sales were down 6.9%, which is a performance comparison to the same stores open last year and this past year (comparable stores would not include new stores opened or closed within the year).

Macy's (M) shares rose nearly 5% in intraday trading Tuesday after it announced 150 store closures in yet another turnaround plan, as the U.S. department store chain tries to shore up its finances and keep an activist investor at bay.

While the top- and bottom-line numbers for Macy's (M) give a sense of how the business performed in the quarter ended January 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Pre-market futures are tepid for a second-straight trading day — even going back to last week, after last Thursday's big upswing in market activity began leveling off slightly. We continue that leveling off as of this hour today, with the Dow -25 points, the S&P 500 +1 points and the Nasdaq +22.

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.

We have some grist for the trading mill ahead of the opening bell, but it's not likely to cause any meaningful tremors from this vantage point.