Macy's surges 9% after its 450 reopened stores perform 'better than anticipated'
surged 9% on Monday after the retailer reported that its 450 reopened stores are performing"better than anticipated."for its fiscal first quarter earnings, which detailed the economic damage it experienced caused by the coronavirus pandemic.Adjusted loss per share:-$652 million, versus a profit of $136 million in first quarter 2019
Macy's said it's seeing positive feedback from its curbside pick-up program, and has seen e-commerce trends improve in May.Stocks have met none of the 8 conditions that confirmed every new bull market in the post-war era — and one investment chief warns a relapse into a bear market is comingThe company had by June 1 reopened approximately 450 stores, which benefited from a consumer eager to spend after being sheltered in place for more than two months.that it raised $4.
Macy's jumped as much as 9% to $10.46 in Tuesday morning trades. The stock is up more than 130% from its coronavirus lows reached in late March. Year-to-date, Macy's is still down more than 40%.France unveils a 15 billion euro rescue package for its stricken aerospace industry »
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Macy's says reopened stores performing better than expectedMacy's Inc said on Tuesday its 450 reopened stores were performing better than expected, giving some respite for the department store chain that reported nearly $1 billion in quarterly operating losses due to COVID-19 lockdowns.
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Macy's raises $4.5 billion to shore up funds as stores reopen, shares surgeMacy's Inc said on Monday it raised a total of $4.5 billion, including $3.15 billion in new borrowings against its real estate assets, as the department store chain tries to navigate through the fallout from the COVID-19 pandemic.
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Macy's stock skyrockets after better-than-expected store re-openingsMacy's Inc. undefined stock skyrocketed 11% in Tuesday premarket trading after the department store retailer guided for first-quarter losses that are ahead...
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Retail Sales Poised to Decline Over 10% This YearA slow recovery is expected, but consumers are expected to spend as stores reopen.
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Dow climbs 461 points as economic reopening spurs recovery hopes | Markets InsiderUS stocks rose on Monday to a 15-week high as economic recovery hopes led to rallies in airlines, cruise lines, and retail. The S&P 500 wipe...
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