The department store said Tuesday that it aims to add up to 30 new small-format locations through the fall of 2025, bringing the total number of such stores to roughly 42.
On Thursday, Nike Inc (NYSE: NKE) reported fiscal first-quarter revenue that missed Wall Street’s revenue expectations for the first time in two years while beating earnings and gross margin expectations. Although it continues to pursue its DTC strategy, Nike reestablished its wholesale partnerships with Macy’s Inc (NYSE: M) and Designer Brands Inc (NYSE: DBI) to clear excess inventories while stating it is in the process of resetting its business with Foot Locker Inc (NYSE: FL). Also this week,
Macy's Inc stock has fallen about 38% this year and is poised to close at its lowest level since January 2021 after reporting yet another slowdown in sales growth on Tuesday. But rather than punish one of the United States’ oldest and best-known retailers, there are plenty of reasons investors might want to give the company another chance – albeit with a caveat.