CFO Paula Price told investors in early 2019 that the company was preparing a major multiyear cost-cutting program. Macy's hasn't shared details of that effort yet, but will do so – including hard numbers for its expected savings – in early September.
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Reduced sales help to the point there is no one to help customers, stores are messy, in disrepair.
With online shopping increasing how do you keep customers coming into the store that way?
Combining jobs into one overloaded position, outsourcing basic work.
Not a good recipient for success.
Cost cutting measures are often met with a bounce in the stock price. On the other hand, retail stocks have been in such a downward trend that a response to such plans may be muted. At some point the stock will be a buy as a trade.
As an investor, I'm wondering at what stock price an activist investor or investment firm might get interested because the sum of the parts are more valuable than the market cap. Time will tell.
I worked for the company for 37 years and the company supported me and my family well. I'm thankful for that. But now that I recently retired, those that work there are in my heart with best wishes, For some of you it's time to look for new opportunities. Opportunities seem to come when you least expect.
$12.00 a share anyone?????
Well I see where this will be going. More layoffs. They don't have any innovative ideas. Employees have known this , the Forbes article let the investors know what is really going on . The last big layoff announcement Hal and Jeff concocted tanked the stock. Macy stock can't handle much more of the poor leadership and lies about poor performance.
Cost cutting??? Will this include lowering the CEO and top executive pay? It appears you devalue the employees in the stores and continue to merge positions and cut staffing. The top executives are the ones that have made the poor decisions that got us in this mess. Better look at your positions first!