M - Macy's, Inc.

NYSE - NYSE Delayed Price. Currency in USD
17.14
+0.14 (+0.82%)
At close: 4:01PM EDT
Stock chart is not supported by your current browser
Previous Close17.00
Open17.25
Bid17.14 x 4000
Ask17.17 x 1000
Day's Range17.02 - 17.59
52 Week Range14.20 - 38.35
Volume13,879,278
Avg. Volume11,602,800
Market Cap5.295B
Beta (3Y Monthly)0.73
PE Ratio (TTM)5.21
EPS (TTM)3.29
Earnings DateNov 21, 2019
Forward Dividend & Yield1.51 (8.88%)
Ex-Dividend Date2019-09-12
1y Target Est18.53
Trade prices are not sourced from all markets
  • Buy Nordstrom Stock, But Not Because of Its Low Valuation
    InvestorPlace

    Buy Nordstrom Stock, But Not Because of Its Low Valuation

    Nordstrom (NYSE:JWN) stock has suddenly moved into rebound mode. After hitting a multi-year low of around $25 per share, the stock has surged over the last few weeks, taking Nordstrom stock to almost $35 per share.Source: Jonathan Weiss / Shutterstock.com JWN remains far away from delivering impressive profit growth, and its low multiple may not persuade investors to buy after the recent run-up. Still, it has become a lucrative choice for an unexpected group -- dividend investors. Nordstrom's Amazing TurnaroundNordstrom stock has seen an impressive run since it announced an earnings beat on Aug. 21. The report began a rally that has taken JWN stock higher by about 40% in less than a month. Positive developments on trade talks with China have further fueled the rally.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Big IPO Stocks From 2019 to Watch Yes, amid the Amazon (NASDAQ:AMZN) threat, JWN and peers such as JCPenney (NYSE:JCP), Kohl's (NYSE:KSS) and Macy's (NYSE:M) have faced challenges over the last few years. As late as 2015, Nordstrom stock traded at over $83 per share. However, fears of Amazon and factors such as the trade war have helped send JWN to recent lows of around $25 per share.While the competition spelled bankruptcy for Sears (OTCMKTS:SHLDQ) and could for JCPenney, Nordstrom has found a way to remain relevant in a retail environment increasingly moving online. As a result, we now see a turnaround in Nordstrom stock.Even with the huge run-up, the forward price-to-earnings ratio stands at about 10.4. That does not seem expensive. Also, it has maintained an average P/E ratio of around 18.7 over the previous five years and such multiples usually signal a strong long-term buy. Dividends Have Become the Draw for JWNStill, looking at profits, one has to wonder if Nordstrom stock will face more permanent multiple compression. Analysts predict profits will shrink by 8.6% this year. For next year, Wall Street forecasts an increase of only 3.3%. It also predicts long-term earnings increases of 3.68% per year over the next five years. Given the slow pace of profit growth, the low P/E ratio alone would not persuade me to buy Nordstrom stock.However, I see a reason for dividend investors to buy stock in JWN. The silver lining in the long-time decline in JWN stock is the rising dividend yield. As late as 2014, JWN investors earned 1.22% in dividends. At that time, investors received $1.32 per share. The annual payout now stands at $1.48 per share and has remained at that level since 2016.Still, despite a modest increase, the yield has now risen to just over 4.3%. And it remains there despite the massive increase in the stock over the last month.To be sure, this payout presents somewhat of a burden. With a dividend payout ratio of 49.33%, the payout claims nearly half of the company's profits. Still, with growth returning, the company has no reason to put the stock at risk by cutting the dividend. Moreover, even with only 3%-plus profit growth, the payout ratio will fall over time. Final Thoughts on Nordstrom StockNordstrom stock should continue to rise over time, but not for a reason many would expect. Yes, the forward P/E of 10.4 looks cheap, both by S&P 500 and even by JWN standards. However, with profit growth expected to remain in the low-single-digits for years into the future, the P/E may not return to long-term averages of around 18.7.Still, the long-term decline in Nordstrom stock has led to an unexpected result -- a high dividend yield. JWN has become a well-suited vehicle for producing a cash return exceeding both the S&P 500 and most any bank deposit. Moreover, with a P/E ratio that remains low, they should receive the added benefit of a rising stock price.For retail investors wanting both growth and income, JWN stock may have just become the equity of choice.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Big IPO Stocks From 2019 to Watch * 7 Discount Retail Stocks to Buy for a Recession * 7 Stocks to Buy Benefiting From Millennial Money The post Buy Nordstrom Stock, But Not Because of Its Low Valuation appeared first on InvestorPlace.

  • Why Is Macy's (M) Up 5.2% Since Last Earnings Report?
    Zacks

    Why Is Macy's (M) Up 5.2% Since Last Earnings Report?

    Macy's (M) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

  • 7 Discount Retail Stocks to Buy for a Recession
    InvestorPlace

    7 Discount Retail Stocks to Buy for a Recession

    Closing out the first week of September, the benchmark indices finally started to gain some positive momentum. Although encouraging in the nearer term, overall, I don't find the moves that impressive. With Wall Street lacking the holistic energy to push the indices to fresh heights, I believe investors are better served acting defensively. As such, retail stocks to buy provide an intriguing mix of protection and upside potential.But at first glance, retail stocks seem like a sector to avoid like the plague. If our economy stumbles into a recession - and the latest jobs report suggests this is a very real possibility - the natural instinct is to curb unnecessary spending. Thus, it's no surprise that many discretionary retail stocks, such as Macy's (NYSE:M) and JC Penney (NYSE:JCP) have suffered volatility.That said, this segment isn't about people making superfluous purchases on a whim. Instead, many retail stocks to buy enjoy secular revenue streams. For instance, no matter what goes on in the economy, people have to live and work. Therefore, retailers who specialize in core products, accessories or apparel may see a spike in interest.InvestorPlace - Stock Market News, Stock Advice & Trading TipsMoreover, some retail stocks might thrive in a recession. During a bull market, confident consumers will probably eschew discount stores for something higher brow. But in a recession, discount stores might see customers that they normally wouldn't see. * 7 Stocks to Buy In a Flat Market If we do have a downturn, it's important not to lump all retail stocks together. Here are seven stocks to buy if we encounter choppy waters. Dollar Tree (DLTR)Source: Shutterstock Among discount retail stocks to buy, Dollar Tree (NASDAQ:DLTR) is one of the most well-known. From household goods to cleaning products to various food items, everything you see costs a buck. Not only that, DLTR stock has a proven track record for performing brilliantly during distressed economic times.For example, since 2008, the market value for DLTR stock has increased roughly tenfold. Additionally, we could see even bigger gains if we suffer another downturn. Recently, Dollar Tree upgraded its guidance for full-year earnings per share from a range between $4.77 to $5.07 to between $4.90 to $5.11. Management also narrowed down its expectations for full-year revenue.Much of this enthusiasm has to do with same-store sales exceeding analysts' forecasts. While I'd tactically like to wait to see if DLTR stock will correct some of its extreme bullishness, in the longer run, I'm confident in the upswing. This is a company that's going to give customers exactly what they need at a price they can afford. Dollar General (DG)Source: Jonathan Weiss / Shutterstock.com While several publicly traded companies suffered a bloody month of August, Dollar General (NYES:DG) went completely against the grain. Last month, DG stock gained a little over 18%. Even in September, Dollar General has so far returned nearly 4%.And on a year-to-date basis, DG stock has veritably skyrocketed, up over 51%. Even better for stakeholders, the surge in market value appears fundamentally justified.As with Dollar Tree, Dollar General increased its earnings and revenue expectations for the year. Also, the discount retailer experienced an unexpectedly strong lift in same-store sales. That it was also able to beat expectations for its most recent earnings report gave investors little choice: it was time to buy into DG shares, which has proven to be among the most resilient of discount retail stocks. * 10 Battered Tech Stocks to Buy Now Of course, with such massive enthusiasm, I think waiting a little bit for a discount (ironically enough) on DG stock is wise. But if you do see a dip, the longer-term narrative is very intriguing, especially in a recession. Kroger (KR)Source: Jonathan Weiss / Shutterstock.com Normally, most folks wouldn't consider Kroger (NYSE:KR) as a name among discount retail stocks to buy. As one of the top grocers in the country, Kroger offers a wide variety of products, including premium labels. Plus, I can't help but notice that some of their stores are located in very swanky neighborhoods.That said, if we fall into an economic slump, KR stock will act like a discount retailer. Primarily, I say this because Kroger will almost surely soak up demand from the restaurant industry. While restaurants won't fade entirely, customers become more cost-conscious in a downturn. There's no point in spending on sometimes outrageous premiums when you can enjoy good food from home. Undeniably, this is a positive for KR stock.Further, Kroger has its own in-house food and beverages brands. Sure, you can call this high-level knockoffs. But I must admit that Kroger-branded products are very tasty. For instance, I buy their potato chips, which are cheaper, larger sized, and taste just as good as the competition. In a recession, that is the formula for success, which is why you should consider KR stock. Five Below (FIVE)Source: Jonathan Weiss / Shutterstock.com Although the concept of discount retail stocks to buy during a market decline makes sense, I must concede one thing: at the consumer level, most discount retailers are depressing affairs. However, Five Below (NASDAQ:FIVE) has completely changed perceptions about thrift shops. With its bright, bold colors and compelling marketing campaigns, FIVE stock has serious potential.Part of that comes from its core demographics. According to the company's website, Five Below is the only retailer dedicated to teens and tweens. Of course, that usually entails opening up their parents' wallets. Typically, this endeavor results in the usual teen-parent conflict. But with prices so low - everything is between $1 to $5 - this is a rare area of consensus, supporting the case for FIVE stock. * 10 Stocks to Sell in Market-Cursed September Furthermore, I'm very impressed with the company's holistic approach to their marketing and branding message. Not only do they have comprehensive social media coverage, but they're actively engaging their accounts. For instance, their YouTube channel features celebrity guests that incorporate Five Below-sold products into the media presentations. That kind of smart thinking will probably see FIVE stock perform well in rough economic waters. Ross Stores (ROST)Source: Andriy Blokhin / Shutterstock.com At first glance, Ross Stores (NASDAQ:ROST) seems like an anomaly among the apparel-based retail stocks. Just take a look at well-known apparel makers, such as Gap (NYSE:GPS) or Guess (NYSE:GES). Their shares have incurred significant volatility, marked by bouts of extreme wildness. In sharp contrast, ROST stock has enjoyed a relatively stable move northward.But in the context of the current economic uncertainty, I'm not surprised that ROST stock has performed well this year. Even with the U.S.-China trade war threatening to hike apparel prices, the reality is that people need clothes. And while Ross will certainly take a hit to their margins, other non-discount retailers will suffer worse.With that said, I think you can make a tactical argument not to dive too deeply right now. Currently, ROST stock is sitting on over 35% YTD. If the broader markets get jittery, ROST is liable for a correction. Still, in the long run, I'd pay very close attention to this name if economic conditions don't improve. Ollie's Bargain Outlet (OLLI)Source: Shutterstock A few years back when I started writing about Ollie's Bargain Outlet (NASDAQ:OLLI), it was on a roll. Growth was meteoric, which drove up the market value of OLLI stock. When you consider that shares were priced under $20 for much of 2015, this is one of the most explosive retail stocks.But in recent weeks, explosive has a different connotation. Now, investors are no longer considering Ollie's as one of the stocks to buy, but instead to dump. Late last month, the company released its Q2 earnings report, and the news wasn't encouraging.Although the discount retailer reported double-digit sales growth, it witnessed a deceleration of same-store sales. Management blamed it on new store introductions' cannibalization effect. However, Wall Street saw the decline as Ollie's inability to perform under a strained environment. As a result, investors pummeled OLLI stock. * 7 Worst Stocks That Flopped This Earnings Season Possibly heading into a recession, I understand why investors are nervous. However, let's keep in mind that the retailer is called Ollie's Bargain Outlet, not Olivier's Chateau of Overpriced European Trinkets. If we have a downturn, OLLI stock has the potential to outperform. And sure enough, it's now on a steep discount. Big Lots (BIG)Source: Jonathan Weiss / Shutterstock.com Big-box retailer Big Lots (NYSE:BIG) probably hasn't been included in a list of retail stocks to buy for some time. Frankly, that's for good reason. In January of last year, the markets priced BIG stock into the stratosphere at over $60. Today, shares are trading hands for less than $25.Unfortunately, Big Lots consistently delivered poor earnings results throughout 2018. Not only that, management cut guidance, which exacerbated the issue. Throw in an executive shuffle with a new CEO, and the retailer looked more frazzled than confident about tackling a new challenge. As a result, BIG stock took it on the chin.As it stands, BIG stock is easily one of the most speculative retail stocks available. However, I can't help but feel a recession could actually help turn things around. Big Lots has many of the same characteristics of popular Costco (NASDAQ:COST). The one exception, of course, is that Big Lots has no membership dues, and their rewards program is also free.As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Deeply Discounted Energy Stocks to Buy * 7 Stocks to Buy In a Flat Market * 10 Stocks to Buy to Ride China's Emerging Wealth The post 7 Discount Retail Stocks to Buy for a Recession appeared first on InvestorPlace.

  • Buy Nike Stock Ahead of Q1 Earnings, Amid LULU & Adidas Competition?
    Zacks

    Buy Nike Stock Ahead of Q1 Earnings, Amid LULU & Adidas Competition?

    Nike (NKE) is set to release its Q1 2020 earnings and revenue results on September 24. Is now the time to buy NKE stock amid Lululemon (LULU) & Adidas (ADDYY) competition?

  • Macy's overhauls the way it handles diversity
    American City Business Journals

    Macy's overhauls the way it handles diversity

    Retail giant Macy's Inc., with headquarters in Cincinnati and New York, is overhauling how the company tackles diversity, which it says will help it reflect its customers and the communities it serves.

  • MarketWatch

    Macy's sets 30% goal by 2025 for diversity at the senior director level or above

    Macy's Inc. unveiled a diversity and inclusion plan on Tuesday that includes a goal of 30% diversity at the senior director level or above by 2025. The department store retailer has created a yearlong program, MOSAIC, to strengthen leadership skills among managers and directors of African-American, Latinx, Native American and Asian descent. Macy's has also updated its customer bill of rights, says it will require 50% representation across the spectrum of age, gender, ethnicity and "differently-abled" subjects in its advertising by 2020, and achieve a spend of at least 5% by 2021 across a more diverse set of suppliers. Macy's released its latest sustainability report on Tuesday with goals for 2025 across environmental, social and governance issues. Macy's stock is up 2.5% in Tuesday trading, but down 58% over the last year. The S&P 500 index has gained 3% over the past 12 months.

  • Macy’s Celebrates Hispanic Heritage Month by Embracing Unity Through the Art, Music, and Fashion of Latinx Creators
    Business Wire

    Macy’s Celebrates Hispanic Heritage Month by Embracing Unity Through the Art, Music, and Fashion of Latinx Creators

    Special appearances by Grammy winners Jesse & Joy, musical talent Amara La Negra, Buzzfeed’s Curly Velasquez, Grammy nominated Los Rakas, and comedian and actor Cheech Marin

  • Business Wire

    Macy’s, Inc. Creates Bold Vision To Advance Diversity and Inclusion and Ensure The Company Reflects The Diversity Of The Customers and Communities Served

    Macy’s, Inc. (NYSE:M) today announced a five-point approach to further ensure the company reflects the diversity of the customers and communities it serves. As part of this effort, the company has set goals and outlined specific strategies to increase its impact. “At Macy’s, diversity and inclusion are essential to our culture and core values.

  • Will PREIT's Worst Malls Die -- or Will They Evolve?
    Motley Fool

    Will PREIT's Worst Malls Die -- or Will They Evolve?

    The mall REIT has had to move aggressively to save lower-performing malls that can be revitalized, while cutting others loose.

  • TheStreet.com

    Macy's Shares Higher as Retailer Rolls Out Diversity Plan

    The Cincinnati retailer also said that by 2020 it would require half of all models in its ads to represent `gender/gender identity, ethnicity, age, size and differently abled subjects.'

  • Buy Lululemon (LULU) Stock at New Highs on Digital & Menswear Growth?
    Zacks

    Buy Lululemon (LULU) Stock at New Highs on Digital & Menswear Growth?

    Breaking down Lululemon's (LULU) Q2 2019 financial results that wowed Wall Street last week. And why Lulu stock looks like a buy as it expands its digital, international, and menswear businesses to further challenge Nike (NKE) - Full-Court Finance.

  • Remarkable Style for Every You With Macy’s Fall Fashion
    Business Wire

    Remarkable Style for Every You With Macy’s Fall Fashion

    Macy’s incredible assortment of fashion, accessories, home and beauty is full of perfect pieces to make shoppers feel confident, while cooling temperatures offer new ways to layer trends in a way that feels totally personal. Looking to spark your personal style inspiration? Check out Macy’s Presents The Edit, a digital destination for all the latest style advice, curated by the experts at Macy’s Fashion Office.

  • Here Are the Details of Macy's Big Cost-Cutting Plan
    Motley Fool

    Here Are the Details of Macy's Big Cost-Cutting Plan

    Macy's sees opportunities to boost its annual profit by hundreds of millions of dollars through more efficient use of data and technology.

  • 3 Reasons Why Amazon Stock Should be in Your Cart Ahead of the Recession
    InvestorPlace

    3 Reasons Why Amazon Stock Should be in Your Cart Ahead of the Recession

    Intuitively, many investors are undoubtedly tempted to ignore the recent move up in Amazon (NASDAQ:AMZN). Although AMZN stock has seen some volatility since hitting a bottom in August, shares fundamentally have a credibility problem.Source: mirtmirt / Shutterstock.com Everywhere you look, you see multiple pressure points. Of course, the biggest headwind comes in the form of the U.S.-China trade war. Neither side shows any interest in conceding to the other. Additionally, national pride and political reputation are at stake for both battling parties. While the conflict drags on, both the U.S. and Chinese economies are feeling the hurt.Because the trade war is taking its toll on multiple industries including manufacturing, it imposes problems for the consumer. If the tit-for-tat tariffs roll into next year -- and that seems likely to be the case -- consumer sentiment will almost surely fade. Of course, that's a huge negative for AMZN stock.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAnother factor working against Amazon stock is its target consumers' behaviors. Let's face it: most folks don't shop on Amazon.com to buy groceries or essential products. No, the e-commerce giant exists to serve our discretionary needs. In a decisive bull market, this was all fine and well.But with a possible market downturn on the horizon, AMZN stock looks less appealing. It's no surprise that last month, investors took a dim view on luxury retailers like Nordstrom (NYSE:JWN) and even mainstream Macy's (NYSE:M). * The 8 Worst Stocks to Buy Before the Trade Turmoil Cools Off But should investors avoid Amazon stock? Technically, the latest moves aren't that impressive over a larger framework. Still, on a fundamental basis, Amazon offers some surprisingly recession-resistant catalysts that make buying on any dips a viable proposition. E-commerce is Ideal for Cost-Conscious ConsumersLogically, in a recession, everyone should pare down unnecessary spending. After all, paying rent or buying groceries is far more important than that shiny new gadget. In that environment, consumer-levered investments like Amazon stock don't intuitively appeal to market buyers.That said, we're Americans. Although we'll collectively trim down our spending in a recession, we won't quit the habit. Witness the last recession, when retail sales, excluding food services, dipped noticeably. Yet total retail sales recovered completely inside of four years.Moreover, Amazon has taken an increasingly larger share of the broader retail pie. So, recession or not, people will shop on the e-commerce giant's website. And that augurs well for AMZN stock.You also must consider the inherently cost-effective nature of online shopping. Obviously, you don't have to drive to a physical location: you can simply pick and choose what you want from the comfort of your own home. Neither do you have to fight for parking or stand in line. Over time, these little frustrations add up to serious dollars, dollars which recession-hurting consumers don't have.Thus, don't be surprised if AMZN stock performs well in a recession, especially at the expense of traditional retailers. AMZN to Benefit from Premium on Cheap EntertainmentRecently, I made the case that a recession is exactly what Roku (NASDAQ:ROKU) needs. Although a seemingly click-baity thing to say, I presented a logical argument: during an economic slump, sources of cheap entertainment will experience a surge in demand.Understandably, humans can't keep swinging indefinitely. At some point, they need to unwind, or they need a little bit of joy to look forward to. For instance, during the Great Depression, the so-called golden age of Hollywood came alive. The box office provided a moment of respite to American workers who were otherwise battling an unprecedented crisis.By the way, this isn't just a yesteryear concept. During the Great Recession, beleaguered professionals flocked to the box office. * 7 Best Tech Stocks to Buy Right Now Now it remains to be seen if Hollywood can repeat its magic in the next recession. For what it's worth, I think it can. But one thing is certain: people will look for cheap distractions. AMZN has the right ticket.Once you're done extending your plastic on Amazon.com, you can take advantage of their streaming services. A few years back, the company spun off Prime Video in a bid to disrupt Netflix (NASDAQ:NFLX). And in a recession, Amazon has an advantage of consolidating various consumer-level components under one umbrella. AWS to Support Amazon StockThe beauty of Amazon stock is that it's no longer just a consumer-related investment. Over the years, the company has disrupted many technology sectors.The biggest impact so far is with cloud services. At the latest count, AMZN owns nearly half the public cloud's infrastructure. Incredibly, they're leading names like Alphabet (NASDAQ:GOOGL) and Microsoft (NASDAQ:MSFT), companies that really should take the lead here.Naturally, this gives Amazon considerable leverage and buffer should a recession strike. Moreover, the cloud dominance virtually guarantees the company continued relevancy, even in a slump. That's because when used appropriately, the cloud can save large enterprises money on operating costs.No matter where you turn, Amazon has multiple revenue streams to weather an economic crisis. Therefore, I'm more than willing to give AMZN stock the benefit of the doubt.As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Deeply Discounted Energy Stocks to Buy * 7 Stocks to Buy In a Flat Market * 10 Stocks to Buy to Ride China's Emerging Wealth The post 3 Reasons Why Amazon Stock Should be in Your Cart Ahead of the Recession appeared first on InvestorPlace.

  • Macy's, Inc. (NYSE:M) Will Pay A 2.5% Dividend In 4 Days
    Simply Wall St.

    Macy's, Inc. (NYSE:M) Will Pay A 2.5% Dividend In 4 Days

    Macy's, Inc. (NYSE:M) is about to trade ex-dividend in the next 4 days. You will need to purchase shares before the...

  • Why RH Stock Looks Like a Buy Ahead of High-End Retailer's Q2 2019 Earnings
    Zacks

    Why RH Stock Looks Like a Buy Ahead of High-End Retailer's Q2 2019 Earnings

    Shares of RH (RH), formally known as Restoration Hardware, have soared 65% over the past three months heading into the release of its second-quarter 2019 financial results on Tuesday, September 10...

  • Oxmoor Center Macy's store in line for upgrades, investment
    American City Business Journals

    Oxmoor Center Macy's store in line for upgrades, investment

    The Louisville store is getting several upgrades after Macy's made a capital investment into the location.

  • Paylocity, Macy's, Henry Schein, DENTSPLY and Patterson Companies highlighted as Zacks Bull and Bear of the Day
    Zacks

    Paylocity, Macy's, Henry Schein, DENTSPLY and Patterson Companies highlighted as Zacks Bull and Bear of the Day

    Paylocity, Macy's, Henry Schein, DENTSPLY and Patterson Companies highlighted as Zacks Bull and Bear of the Day

  • J.C. Penney is nearing its death: top retail strategist
    Yahoo Finance

    J.C. Penney is nearing its death: top retail strategist

    J.C. Penney is on life support, says one veteran retail analyst.

  • Bear Of The Day: Macy's (M)
    Zacks

    Bear Of The Day: Macy's (M)

    Bear Of The Day: Macy's (M)

  • How the Trade War Is Impacting Amazon
    Investopedia

    How the Trade War Is Impacting Amazon

    Even mighty Amazon.com, the largest e-commerce company worldwide, may feel the pinch from the escalating U.S.-China trade war.

  • Nordstrom (JWN) Debuts Local 'Mini' Stores in New York
    Zacks

    Nordstrom (JWN) Debuts Local 'Mini' Stores in New York

    Nordstrom (JWN) opened its first Nordstrom Local store in New York today, expanding its store portfolio.

  • Reuters

    UPDATE 1-Macy's sees savings of up to $550 mln from targeted promotions, better pricing

    Macy's Inc said on Thursday it aimed to save $400 million to $550 million annually in the next two to four years, as the department store chain cuts back on discounts, sending its shares up 5% in mid-day trading. The 160-year-old company, which has been spending heavily on remodeling its stores and building off-price and online businesses, has relied on discounting to clear inventory, a move that has hurt its earnings. Speaking at a retail conference hosted by Goldman Sachs, Chief Financial Officer Paula Price said some of the savings will be supported by better prices as the retailer moves towards targeted promotions for customers.

  • TheStreet.com

    Macy's Shares Fly Off The Shelves as Retailer Unveils Comeback Plan

    Macy's contends a shift to more targeted discounting could help yield savings of $400 million to $550 million.

  • Tech stocks weigh on sliding market
    Yahoo Finance Video

    Tech stocks weigh on sliding market

    U.S. stocks are sliding today, with tech dragging on the NASDAQ, and one strategist is saying this could be a sign of things to come. Baird PWM Market Strategist Michael Antonelli joins Yahoo Finance's Adam Shapiro and Julie Hyman, along with Bryn Mawr Trust Wealth Management Chief Investment Officer Jeff Mills, to discuss.