Realistically? It feels like things have been going in that direction for a while now. And while I know it doesn't automatically mean liquidation, bankruptcy does come with guaranteed store closures and many layoffs and hour cuts. I'm just trying to assess how close we are to something like that. Online I found predictions from analysts and experts ranging from 17% to more than 50% (which is the number that worries me.)
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M's property has bailed them out this year, and before as it's used for collateral. Bankruptcy (like your stated) is a real possibility. I would guess 20% as more stores close, and further reductions must be made. Look at the retailers that didn't make this year alone, and the ones that filed chapter 9 or 11.
The stock continues to hover around $10.00 and they have stores (still) that cannibalize each other. As far as the China comment made that's insane, and no company is to large to file or go under.
The workload isn't going to get any easier any time soon. Payroll is the largest controllable expense in any organization. Could they reorganize and cut more payroll? Perhaps but it is so low now, you still must have associates on the floor in a soft line retailer.
Macy's must cut expenses, reduce overhead and develop a plan and work that plan! In M's word's –EXECUTE!
Don't be surprised when they lay everyone off and the only people they can hire are crackheads straight off the street. They should change their slogan of "MAGIC" to "DESPERATE".
No company is too big to go bankrupt, including Macy's which has gone bankrupt before. It is not the worst thing in the world. A lot of what we see as insanity stops; senior management is not allowed to make decisions to only help themselves and a pause button is hit to get the company to restructure and develop a real plan for short and long term recovery.
They will never go bankrupt. Macy’s is too big and China has too much invested in them for that to ever happen. We have some of the best data science teams building new tools and programs that will help the company run more efficiently by making better strategical decisions encompassing buying and planning. What they should do is get rid of JG because his decisions have hurt the company and laying off good workers every year to protect his own bottom line has created a toxic and extremely unhealthy work environment for the people who have survived so far. People are looking to get out bc of the insane workload they have now and a company that used to be such a huge proponent of quality of life and work and life balance, well that has all gone out the window by making everyone work 12+ hour days.
m won’t go bankrupt cause it will effect their stock scam. They will just start closing down stores at a rapid pace. Just read on here that FT for January only gets 24 hrs a week. If you make $10 a hr that’s $240 a week. After take us less than $200 your better off working for Amazon. Or Ups. But it’s gonna be fun to watch what happens next. Company doesn’t value you anyone under the board of criminals and CEO. !