Latest news with #Macys
Yahoo
7 hours ago
- Business
- Yahoo
Macy's, Inc. Announces Pricing of Senior Notes
NEW YORK, July 14, 2025--(BUSINESS WIRE)--Macy's, Inc. (NYSE: M) (the "Company") announced today that its wholly-owned subsidiary, Macy's Retail Holdings, LLC (the "Issuer"), priced an offering of $500 million in aggregate principal amount of 7.375% senior notes due 2033 (the "Notes") in a private offering at an offering price of 100% of the principal amount thereof. The Notes will have a maturity date of August 1, 2033. The closing of the offering of the Notes is expected to occur on July 29, 2025, subject to customary closing conditions. The Notes will be senior unsecured obligations of the Issuer and will be unconditionally guaranteed on a senior unsecured basis by the Company. The Issuer intends to use the proceeds from the offering of the Notes, together with cash on hand, to (i) fund its separately announced concurrent tender offer (the "Tender Offer"), (ii) redeem approximately $587 million of certain of its existing outstanding senior notes and debentures (such redemption, the "Redemption") and (iii) pay fees, premium and expenses in connection therewith and this offering. The Redemption and the Tender Offer are conditioned on, among other things, the consummation of the offering of the Notes. The offering of the Notes, however, is not conditioned on the consummation of the Redemption or the Tender Offer (including the tender of any specified amount of the Company's outstanding senior notes as part of the Tender Offer). This press release does not constitute an offer to purchase, a solicitation of an offer to sell or a notice with respect to any tender offer or redemption of any existing notes. This press release is for informational purposes only and is neither an offer to sell nor the solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. Any offers of the Notes will be made only by means of a private offering memorandum. The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in an offering exempt from registration in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States in reliance on Regulation S under the Securities Act. The Notes and related guarantees have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act or any applicable state securities laws. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act. About Macy's, Inc. Macy's, Inc. (NYSE: M) is a trusted source for quality brands through our iconic nameplates – Macy's, Bloomingdale's and Bluemercury. Headquartered in New York City, our comprehensive digital and nationwide footprint empowers us to deliver a seamless shopping experience for our customers. Forward-Looking Statements All statements in this press release regarding the closing of the notes offering and the expected use of proceeds therefrom that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by the forward-looking statements contained in this release because of a variety of factors, including, but not limited to, general market conditions which might affect the offering, and other factors identified in documents filed by the Company with the Securities and Exchange Commission, including under the captions "Forward-Looking Statements" and "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended February 1, 2025 and the Company's Quarterly Report on Form 10-Q for the quarterly period ended May 3, 2025. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. View source version on Contacts Media – Chris Grams communications@ Investors – Pamela Quintiliano investors@ Error al recuperar los datos Inicia sesión para acceder a tu cartera de valores Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos
The Guardian
5 days ago
- Business
- The Guardian
US shoppers feel the heat of Trump's trade war: ‘the prices are going up'
As temperatures soared on a sweltering July day in New York City, shoppers at Queens's largest mall said they were feeling the heat – of rising prices. 'T-shirts, basic t-shirts, underwear, the basic necessities – the prices are going up,' said Clarence Johnson, 48, who was visiting the Macy's at the Queen Center mall to pick up shirts he ordered online. As Donald Trump presses on with his trade wars, retailers have been passing price increases onto customers. Department stores – which rely on a variety of imported goods and materials, from shoes to t-shirts – have particularly been scrambling to deal with the flux in prices. At Macy's, signs advertising sales of as much as 60% off original prices were sprinkled around the store – even next to diamond-encrusted necklaces locked inside display cases in the jewelry department. But for some customers, the prices are still too high. Nydia Olvera, 61, said that shopping at Macy's is typically out of her budget, but she still makes trips to the store to check out the clearance section. 'I remember they used to have these t-shirts for three dollars. Now, no more,' Olvera said. 'Now I pay $7 to $9 for a t-shirt.' A recent study from analytics firm DataWeave showed that the prices of footwear, apparel and bags increased significantly from January to June. Footwear has gone up as much as 4% and apparel by nearly 2% in the last six months. And it's unclear how much more prices could rise. The White House is still in the midst of negotiations with dozens of countries that could face new tariffs as high as 40%. These proposed tariffs are set to go into effect 1 August, after Trump pushed back an initial negotiations deadline of 9 July. Last week, the Trump administration announced a deal had been made with Vietnam, which is the second largest manufacturer for apparel, footwear and accessories – the bulk of what is sold at department stores – after China. According to the deal, exports from Vietnam will face 20% tariffs – half of the proposed levy of 46% Trump announced in April. Goods made in other countries, such as China, that are shipped from Vietnam will face a 40% tariff. While retail executives have said the deal is better than the initial tariffs that were announced, it will still increase costs for retailers. Macy's recently adjusted down its earnings forecast, citing uncertainty around tariffs. The company's stock price is down 25% this year. Macy's CEO Tony Spring told CNBC, the financial news network, in May that some prices will stay the same but others are going to be more expensive, meaning the company will have to pass on some of the levies to customers. Other executives, including leaders from Nike, Target, Best Buy and Walmart have similarly said that they will have to pass on costs. But retailers are also absorbing costs. Macy's chief financial officer Adrian Mitchell said during the company's earnings call in May that, while the company has been able to gain some vendor discounts, 'we're absorbing some of that price as well'. Retailers must decide how much of the increased costs it can pass onto consumers, without losing loyal customers. It is a tough environment particularly for department stores, which have lost customers to online retailers over the years. Sales at department stores made up just 2.6% of retail sales in 2023, compared to 14.1% in 1993, before the rise of online shopping. At Queens Center, some Macy's customers said they have yet to notice any price increases, especially when using coupons the company typically issues. 'The difference isn't big; a little bit higher,' said Raphaelina Garcia, 33, who was shopping for a dress to wear at an upcoming wedding. 'When you have the coupon, it's the same price [as before].'
The Guardian
5 days ago
- Business
- The Guardian
US shoppers feel the heat of Trump's trade war: ‘the prices are going up'
As temperatures soared on a sweltering July day in New York City, shoppers at Queens's largest mall said they were feeling the heat – of rising prices. 'T-shirts, basic t-shirts, underwear, the basic necessities – the prices are going up,' said Clarence Johnson, 48, who was visiting the Macy's at the Queen Center mall to pick up shirts he ordered online. As Donald Trump presses on with his trade wars, retailers have been passing price increases onto customers. Department stores – which rely on a variety of imported goods and materials, from shoes to t-shirts – have particularly been scrambling to deal with the flux in prices. At Macy's, signs advertising sales of as much as 60% off original prices were sprinkled around the store – even next to diamond-encrusted necklaces locked inside display cases in the jewelry department. But for some customers, the prices are still too high. Nydia Olvera, 61, said that shopping at Macy's is typically out of her budget, but she still makes trips to the store to check out the clearance section. 'I remember they used to have these t-shirts for three dollars. Now, no more,' Olvera said. 'Now I pay $7 to $9 for a t-shirt.' A recent study from analytics firm DataWeave showed that the prices of footwear, apparel and bags increased significantly from January to June. Footwear has gone up as much as 4% and apparel by nearly 2% in the last six months. And it's unclear how much more prices could rise. The White House is still in the midst of negotiations with dozens of countries that could face new tariffs as high as 40%. These proposed tariffs are set to go into effect 1 August, after Trump pushed back an initial negotiations deadline of 9 July. Last week, the Trump administration announced a deal had been made with Vietnam, which is the second largest manufacturer for apparel, footwear and accessories – the bulk of what is sold at department stores – after China. According to the deal, exports from Vietnam will face 20% tariffs – half of the proposed levy of 46% Trump announced in April. Goods made in other countries, such as China, that are shipped from Vietnam will face a 40% tariff. While retail executives have said the deal is better than the initial tariffs that were announced, it will still increase costs for retailers. Macy's recently adjusted down its earnings forecast, citing uncertainty around tariffs. The company's stock price is down 25% this year. Macy's CEO Tony Spring told CNBC, the financial news network, in May that some prices will stay the same but others are going to be more expensive, meaning the company will have to pass on some of the levies to customers. Other executives, including leaders from Nike, Target, Best Buy and Walmart have similarly said that they will have to pass on costs. But retailers are also absorbing costs. Macy's chief financial officer Adrian Mitchell said during the company's earnings call in May that, while the company has been able to gain some vendor discounts, 'we're absorbing some of that price as well'. Retailers must decide how much of the increased costs it can pass onto consumers, without losing loyal customers. It is a tough environment particularly for department stores, which have lost customers to online retailers over the years. Sales at department stores made up just 2.6% of retail sales in 2023, compared to 14.1% in 1993, before the rise of online shopping. At Queens Center, some Macy's customers said they have yet to notice any price increases, especially when using coupons the company typically issues. 'The difference isn't big; a little bit higher,' said Raphaelina Garcia, 33, who was shopping for a dress to wear at an upcoming wedding. 'When you have the coupon, it's the same price [as before].'
Bloomberg
28-05-2025
- Business
- Bloomberg
Stock Movers: Macy's, Abercrombie & Fitch, Vail Resorts
On this episode of Stock Movers: - Macy's (M) shares rise after the company posted better-than-expected quarterly results, with comparable-store sales falling less than analysts had anticipated and revenue of $4.6 billion surpassing the average estimate. The company maintained its sales outlook for the current year, despite new tariffs and moderation in consumer discretionary spending, and anticipates "modest" price increases. - Abercrombie & Fitch (ANF) shares surge after the retailer raised its full-year outlook, showing confidence in navigating the changing tariff landscape. The retailer now expects full-year net sales growth of 3% to 6%, including $50 million of tariff expenses, and does not plan broad-based ticket increases. - Vail Resorts (MTN) shares gain after the company said Executive Chairperson Rob Katz will return to the role of chief executive officer, replacing Kirsten Lynch, who stepped down. The company, based in Broomfield, Colorado, also reaffirmed financial guidance shared in April.
