Macy's forecasts annual sales below estimates, to shutter 150 stores : vimarsana.com

Macy's forecasts annual sales below estimates, to shutter 150 stores

NEW YORK (Reuters) -Macy's forecast annual sales below market expectation on weak demand for its apparel and shoes and said it would close 150 stores through 2026 in a new turnaround plan, sending its shares down about 2% before the bell on Tuesday. The move comes as sluggish sales has landed the upscale retailer in the crosshairs of activist shareholders and attracted potential bidders. Macy's is facing a proxy battle from Arkhouse Management after the investment firm nominated nine director candidates last week.

Related Keywords

New York , United States , Bengaluru , Karnataka , India , Savyata Mishra , Arun Koyyur , Reuters , Bloomingdale , Katherine Masters , Arkhouse Management , Macy , Acy S , Avid Swartz , Urnaround Plan , Nnual Sales ,

© 2024 Vimarsana