Cowen Remains Bullish on Macy's (M) Following Announced Store Closures

Macy’s Announces Plans for 35 to 40 Store Closings

CINCINNATI--(BUSINESS WIRE)-- Macys, Inc. (NYSE: M) today announced plans to close 35 to 40 underperforming Macys stores representing approximately 1 percent of the total Macys, Inc. sales in early 2016 as the company works to optimize its omnichannel approach to customers across America.

Physical stores remain absolutely vital to our omnichannel strategy, which provides local touchpoints and tailored merchandise assortments for shoppers in nearly every major market, said Terry J. Lundgren, Macys, Inc. chairman and chief executive officer. As new shopping centers are opened, however, many customers change their shopping habits and often the... More

Macy’s and Best Buy Partner to Test Consumer Electronics Departments in Macy’s Stores

CINCINNATI--(BUSINESS WIRE)-- Macys, Inc. (NYSE: M) today announced it has signed an agreement with Best Buy to test licensed consumer electronics departments in 10 Macys stores to open in early November 2015.

Plans call for Best Buy licensed shops of about 300 square feet to open in Macys stores in various markets throughout the U.S.

The space will be staffed by Best Buy employees and feature Samsung smartphones, tablets and smart watches, as well as audio devices (including Bluetooth speakers and headphones) and accessories (including cases, chargers and other peripherals) from Samsung... More