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Before the Bell: What every Canadian investor needs to know today

A look at Monday morning’s market action ....

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Macy's rejects buyout bid to take company private

Macy's said on Sunday that it has rejected a roughly $5.8 billion buyout offer by two investment groups to take the iconic department store chain private, but the bidders indicated they are not giving up. ....

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Macy's Trims Costs Amid Slowing Sales, Closes Five Stores and Cut More Than 2,300 Jobs

Macy's cuts 3.5% of its workforce to become a more streamlined company, preparing to deploy strategies to address the ever-changing consumer and marketplace. Read more. ....

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Macy's announce store closures and staff lay offs - check full list of shops

There will be more store closures and job losses at iconic department-store chain Macy's four a fourth year in a row as they 'prepare to deploy a new strategy' in the months ahead ....

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Macy's to slash 2,350 jobs, close stores in streamlining effort

The layoffs make up 3.5% of the overall workforce across Macy's. The company operated 722 store locations as of January 2023 and employed 94,570 full- and part-time employees, excluding seasonal hires. The job cuts come as an investor group consisting of Arkhouse Management and Brigade Capital put pressure to take Macy's private in a $5.8 billion offer, Reuters reported in December. Macy's incoming CEO Tony Spring is also focused on cutting expenses on promotions to boost margins as the company recovers from an inventory glut in 2022. ....

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