News: Macys Inc (M.N)
9 Feb 2016
Tue, Jan 19 2016
BOSTON, Jan 19 David Einhorn, whose Greenlight Capital hedge fund ranked among last year's worst performers, told investors on Tuesday that he has made new bets on stocks including battered retailer Macy's and is currently concentrating on delivering better returns.
Hedge fund Starboard Value LP urged department store chain Macy's Inc to enter into joint ventures for its stores, including its flagship Herald Square store in New York, to realize greater value from its real estate assets. | Video
Macy's Inc said it will eliminate more than 2,000 jobs and consolidate operations after reporting weak holiday sales, highlighting a downturn in apparel demand that has likely taken a similar toll on other department stores and clothing chains. Macy's said comparable sales at stores open for more than a year tumbled by 4.7 percent in November and December, far worse than what it had estimated in November, and it cut its earnings outlook for the second time in two month
* Shares up 2.8 pct after market (Recasts with number of jobs to be cut, adds analyst comments)
* Shares up 4.6 pct after market (Adds details, background; updates shares)
Department store chain Macy's Inc, which lowered its full-year earnings expectations for the second time, said it would cut jobs and consolidate its operations, starting early 2016.
Jan 6 Department store chain Macy's Inc said it would shut some stores and cut jobs, starting early 2016.
SAN FRANCISCO Short sellers shopping for overpriced stocks snapped up shares of beleaguered department store Macys heading into Black Friday.
SAN FRANCISCO, Dec 2 Short sellers shopping for overpriced stocks snapped up shares of beleaguered department store Macys heading into Black Friday.
Department store operator Nordstrom Inc on Thursday followed Macy's Inc in cutting its full-year forecast, bringing back into sharp focus concerns of a slowdown in the retail sector.
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