Macy's (M) names Tony Spring as CEO in leadership transition

Lululemon, Micron and UBS rise premarket; Macy's, Foot Locker fall

March 29, 2023 8:11 AM EDT

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Wednesday, March 29th. Please refresh for updates.

Lululemon Athletica (NASDAQ: LULU) stock rose 16% after the athleisure clothing retailer reported... More

Macy's insider Spring to replace turnaround CEO Gennette next year

March 29, 2023 7:14 AM EDT

By Ananya Mariam Rajesh

(Reuters) - Macy's Inc Chief Executive Jeff Gennette will retire next year after four decades with the U.S. department store chain, the company said on Wednesday and named insider Tony Spring as his successor.

Spring, who has been with Macy's for 36 years and heads its upscale Bloomingdale's unit, is being elevated to ensure a smooth transition, the company said.

The leadership change comes as Macy's and other department stores battle excess stock, forcing them to... More

Stocks expected to have increasing option volume: MU LULU BB RH PAYX M

March 29, 2023 7:09 AM EDT

Stocks expected to have increasing option volume: MU LULU BB RH PAYX M

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Macy's (M) Chairman and CEO Jeff Gennette plans to retire

March 29, 2023 7:01 AM EDT

Macys, Inc. (NYSE: M) today announced that Chairman and Chief Executive Officer of Macys, Inc. Jeff Gennette (61) plans to retire in February 2024 after serving the company for 40 years. Following a rigorous succession planning process that included an internal and external search, Tony Spring (58), Macys, Inc. executive vice president and Bloomingdales chairman and chief executive officer, has been appointed by the board of directors as Macys, Inc. president and CEO-elect, and a member of the board of directors. As President, Tony will be responsible for leading Macys, Inc.s Digital, Customer, Merchandising,... More

Gordon Haskett Downgrades Macy's (M) to Hold (3)

March 29, 2023 6:24 AM EDT

Gordon Haskett analyst Chuck Grom downgraded Macy's (NYSE: M) from Accumulate (2) to Hold (3) with a price target of $18.00 (from $27.00).

For an analyst ratings summary and ratings history on Macy's click here. For more ratings news on Macy's click here.

Shares of Macy's closed at $17.27 yesterday.

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