Macy's Inc.'s shares plunged by 15% shortly after Monday's market opening following the announcement the retail giant is no longer interested in acquiring Arkhouse Management Co. LP and Brigade Capital Management, LP.The company's stock nosedived by 15.06% at 9:39 am ET to sell for...
Macy's Inc. reported on Tuesday that its net sales in the first quarter of 2024 landed at $4.8 billion, falling by 2.7% compared to the same period last year. The company's net income in the first trimester stood at $62 million, decreasing 60% from the net income of $155 million on an annual level....
Shares of the American department store chain, Macy's Inc. skyrocketed during Monday's premarket hours following the news that an investor group raised their buyout offer by nearly $1 billion.
Namely, Arkhouse Management Co. LP and Brigade Capital Management LP now offer to pay $6.6 billion...
Arkhouse Management Co. LP and Brigade Capital Management, LP raised their offer to acquire Macy's Inc. by nearly $1 billion, after the company rebuffed the previous offer made by the investor group, the Wall Street Journal reported, citing people familiar with the matter.
The offer will now...
Macy's Inc. unveiled on Tuesday its plans to shut down 150 underperforming stores, which account for approximately 30% of its fleet over the next three years. This decision is part of Macy's new strategy "A Bold New Chapter," which aims to improve the remaining 350 Macy's locations and restore...
Macy's Inc. reported on Tuesday that its net sales in the fourth quarter of 2023 landed at $8.12 billion, declining by 1.7% compared to the same period last year and below expectations of $8.15 billion. The company's net loss in the fourth trimester stood at $71 million, decreasing from the net income...
Macy's Inc. announced in a statement that its Board of Directors didn't accept the acquisition offer from Arkhouse Management Co. LP and Brigade Capital Management, LP, worth $5.8 billion.
The Board "has determined that the non-binding proposal does not constitute a basis to enter into a...
An investor group encompassing Arkhouse Management Co. LP and Brigade Capital Management, LP threatened to bring the proposed Macy's Inc. takeover bid, valued at $5.8 billion, to shareholders, if negotiations with the latter lead to nowhere, it was revealed in a statement on Sunday given to...
Macy's is set to reduce its workforce by approximately 2,350 employees, which represents about 13% of its corporate staff or around 3.5% of the overall workforce. The company will also be closing down five stores as part of its effort to embrace automation and offshore certain positions, The...
Macy's stock skyrocketed more than 20% in premarket trading on Monday following news of a nearly $6 billion buyout offer.
Over the weekend, CNBC reported that Arkhouse Management and Brigade Capital Management had offered to buy Macy's Inc. for $5.8 billion, according to people familiar...
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