Macy’s mulls closing San Francisco flagship amid plans to shutter 150 stores
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TD Cowen Downgrades Macy's (M) to Market Perform, 'Prudent Bold New Changes Will Take Time to Drive Upside to Guidance'
February 29, 2024 5:29 AM ESTTD Cowen analyst Oliver Chen downgraded Macy's (NYSE: M) from Outperform to Market Perform with a price target of $20.00 (from $23.00).
The analyst comments "We like changes ahead including 150 Macy's closures, store growth across luxury (+30 Bluemercury & +15 Bloomies) and small format (+30), and private label and inventory... More
