I really think of Naveen as a CTO GOD to shutdown Uber expensive 680 Folsom (floors 8 to 14). I feel so happy that 680 Folsom Macy's.com sign us finally coming down.
6 replies (most recent on top)
I am happy ...
GFY
I feel sorry for you
Macy’s Inc. has about 4.5 months of available cash putting it at risk from extended closures, according to calculations from Cowen analysts.
With no store revenue, Cowen’s analysis assumes Macy’s M, -6.90% could ring up $449 million in monthly online sales.
Macy’s said last week that it drew down all of its $1.5 billion in credit. Moody’s downgraded Macy’s bonds to junk this week. Macy’s has a monthly labor expense of $227 million.
Cowen analysis shows that labor is the largest monthly fixed cost across the industry, on average about 10.3% of fiscal 2019 annual sales.
Macy's need Private Equity barbarian treatment ...
You need therapy