Latest news with #Macy's
Yahoo
12 hours ago
- Business
- Yahoo
Deals from Amazon, REI, Apple and more are here this weekend
There are so many things to love about June, which makes its long-awaited entrance this weekend. Sun-dappled weddings, the NBA and NHL finals, the summer-commencing solstice, the kiddos being out of school and home with you all the time (OK, we'll admit to some ambivalence about that last one). But we are unabashedly salivating over this weekend's best deals, from Apple, Amazon, Hoka and more. Get ready for the campsite and the beach with a 24-lb-capacity Yeti cooler for $50 off, get your running regimen on the good foot with a $28 markdown on a pair of sturdy, supportive Hoka Clintons and, for a whole nother kind of stepping out, a ridonculous $189 discount on a chic pochette from Kate Spade Outlet. Intrigued? You oughtta be. Want to find out what other picks are poised to rock your shopping world? You know what to do... Amazon: We're seeing savings of up to 70% on everything from bedding and kitchenware to tech, clothing and beauty. Best Buy: Save up to 50% on appliances, as well as on TVs, laptops, headphones and tablets. Macy's: Spend up to $99, get an extra 20% off, $100-$199, get an extra 25% off and $200+, get an extra 30% off when you use code SAVE during the retailer's Buy More, Save More sale. Nordstrom: The Half-Yearly Sale is here! Save up to 60% on Hoka, Tory Burch, Barefoot Dreams and more. QVC: Tap the retailer's massive clearance section for savings on fashion, accessories, home essentials and more — plus, new customers get 20% off their first order with code 20NEWQ. REI: The retailer has a plethora of great offerings during its Anniversary Sale: Score up to 50% off clothing, footwear, REI Co-Op brand deals and hiking items. Target: You can always count on Target to bring the deals, including up to 60% off outdoor furniture and up to 40% off kitchen essentials, clothing and sandals.
Yahoo
2 days ago
- Business
- Yahoo
Old Navy Returning to Herald Square's 34th Street
Old Navy isn't giving up on Manhattan's 34th Street. After losing its 34th Street site at 150 West 34th Street to Primark — a prime competitor — Old Navy has signed a lease to open at 50 West 34th Street, on the southeast corner of 34th and Broadway, catty corner to Macy's. The Old Navy store will occupy 55,000 square feet over two floors and is expected to open some time in 2026. More from WWD Laura Harrier and Zac Posen Celebrate Denim and Dandyism in Bold Gap Studio Suit That Challenges Binaries Around Masculinity and Femininity Henry Lehr's Magic Lives On: Mickey Drexler Helps Expand the Legacy Gap and Dôen Get Ready for Round Two of California Vintage-inspired Summer Collection 'New York is the most important retail and tourism market in the world, drawing over 60 million visitors annually and we are thrilled to announce Old Navy's new flagship is coming to such a prime location,' Haio Barbeito, Old Navy's president and chief executive officer, said in a statement Friday. Old Navy said the new store will be a 'next generation flagship' for the brand, which is a division of Gap Inc. 'As we look to modernize the Old Navy customer experience, this new location will enable us to deliver a fresh, immersive, digitally led experience that invites visitors and shoppers from around the world to come play with style,' Barbeito added. Old Navy and Primark are both family-oriented fashion retailers with low prices. The Dublin-based Primark has been steadily expanding in the U.S., and is also expected to open on 34th Street some time in 2026. It will be interesting to see which retailer opens first. For Primark, its 34th Street location will be its first in Manhattan. The store will occupy 75,000 square feet, including 54,000 square feet of selling space on four levels. The two retailers will be going head-to-head against Macy's, Target, H&M, Zara, Uniqlo, American Eagle and Urban Outfitters, among the thick concentration of retailers in and around Herald Square. 'There's a great competitor set in that area. It is certainly synonymous with retail,' Kevin Tulip, president of Primark in the U.S., told WWD in a previous interview. 'For a company like Primark that is building not just stores, but also its brand across the U.S., the ability to have a flagship there is an incredible moment for us.' The future Old Navy will be at the base of Herald Towers, which was built in 1912, serving as the Hotel McAlpin until its conversion to residential use in 1980. JEMB acquired the asset in 1999, renaming it Herald Towers. The 25-story, 1 million-square-foot mixed-use building offers 700 residential units and a ground floor retail component of more than 100,000 square feet. The Gap brand once operated one of its most productive, largest stores on the site. Morris Bailey, chairman of JEMB Realty, said in a statement that the long-term lease his firm signed with Old Navy is 'a testament to the longstanding relationship between JEMB and Gap Inc. We negotiated the original lease directly with Gap Inc.'s founders, Don and Doris Fisher, and are gratified to be working with the company's leadership again today.' The Old Navy deal comes on the heels of JEMB's 160,000-square-foot lease for Yeshiva University's health sciences campus at Herald Center, just west of where Old Navy will be. Best of WWD Macy's Is Closing 66 Stores in 2025 — Here's the List, Live Updates Inside the Demise of Lord & Taylor COVID-19 Spikes Elevate Retail Concerns
Yahoo
2 days ago
- Business
- Yahoo
Macy's CEO warns customers of a harsh change in stores
Macy's CEO warns customers of a harsh change in stores originally appeared on TheStreet. Macy's () , which owns Bloomingdale's and Bluemercury, is one of the few nostalgic mall retail giants that survived the Covid pandemic, a period that caused several retailers to either file for bankruptcy or go out of business. After surviving the pandemic, Macy's is now battling a startling shift in customer behavior. In Macy's first-quarter earnings report for 2025, it revealed that its comparable store sales declined by 2% year-over-year during the quarter. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💵 The shrinkage in sales contributed to the company earning a total revenue of roughly $4.7 billion during the quarter, which is about 4% lower than what it earned during the same time period last Macy's struggles with lower sales, the average number of visits customers made to each of its locations dipped by 0.2%, according to recent data from During an earnings call on May 28, Macy's CEO Tony Spring said that while the company performed strongly in March and April, its performance in February lagged due to unseasonable weather. He also said that despite recent changes in the economy, consumers (with both low and high income levels) continue to shy away from making discretionary purchases. 'Discretionary spending is something that I think we've seen from the middle of last year kind of forward, that as inflation subsided a little bit, as gas prices became more affordable, the consumer still felt the pinch of other costs that were rising,' said Spring. 'And so, we're maintaining our aggressive position in trying to make sure that we're capturing our fair share. I would say at the high end, the consumer is not obviously pressured, but they remain choiceful, and they don't like uncertainty.'In order to help combat this concerning trend, he said that Macy's will continue to offer 'newness' to customers. 'So the consumer remains under pressure but is responding to newness, is responding to good value, is responding to improved presentation, is responding to inspiring marketing,' said Spring. 'I think we can control some of these elements. I can't control how much discretionary spend the consumer is willing to lay out, but I can control the quality of our execution.' As shoppers become more cautious about making discretionary purchases, Spring also warned that customers may soon see higher prices in Macy's stores due to tariffs (taxes companies pay to import goods from overseas). Last month, President Donald Trump imposed a 10% baseline tariff on all countries and paused reciprocal tariffs. The pause on reciprocal tariffs will end in July, and as a result, roughly 60 countries will soon see increased tariff rates. This will likely have a domino effect, resulting in U.S. consumers seeing higher prices for goods. Spring said that Macy's is 'slowly' implementing price increases in its stores, highlighting that the company will be 'aggressive on pricing' and will remain 'very competitive.' 'I would say the pricing is working its way into the system slowly,' said Spring. 'So you certainly saw little to no pricing in the first quarter. You're seeing some limited pricing in the second quarter.' More Retail: Costco quietly plans to offer a convenient service for customers T-Mobile pulls the plug on generous offer, angering customers Kellogg sounds alarm on unexpected shift in customer behavior During the earnings call, Macy's Chief Financial Officer Adrian Mitchell emphasized that the company isn't solely using price increases to combat the threat of tariffs but is also being 'incredibly surgical' about how it handles them. This includes negotiating with vendors to obtain brands and styles that customers are interested in buying. It has also shifted more of its production away from China, which is one of the countries on which Trump imposed high tariff rates. Macy's has even canceled and delayed certain orders that couldn't be obtained from vendors at a fair price. 'We've been able to gain some vendor discounts, which has been helpful to us, but we're absorbing some of that price as well,' said Mitchell. 'So we're making selective price increase(s) in selective brands, selective categories, because we believe the value equation for the customer is still very relevant.' The move from Macy's comes at a time when many consumers are changing their spending habits to prepare for the impact of Trump's tariffs. According to a recent survey from Harris Poll and Bloomberg News, 56% of Americans said their household finances would be better off if Trump's tariffs were never enforced. Also, three in five Americans said they are cutting back their spending due to concerns about a potential recession. Additionally, more than 70% said they are eating out less, and 57% said they are spending less on CEO warns customers of a harsh change in stores first appeared on TheStreet on May 29, 2025 This story was originally reported by TheStreet on May 29, 2025, where it first appeared. 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Business Insider
2 days ago
- Business
- Business Insider
TD Cowen Remains a Hold on Kohl's (KSS)
In a report released today, Oliver Chen from TD Cowen maintained a Hold rating on Kohl's (KSS – Research Report). The company's shares closed yesterday at $8.04. Confident Investing Starts Here: Chen covers the Consumer Cyclical sector, focusing on stocks such as Kohl's, Macy's, and e.l.f. Beauty. According to TipRanks, Chen has an average return of 5.8% and a 52.41% success rate on recommended stocks. In addition to TD Cowen, Kohl's also received a Hold from Telsey Advisory's Jason Strominger in a report issued yesterday. However, on May 19, J.P. Morgan maintained a Sell rating on Kohl's (NYSE: KSS). Based on Kohl's' latest earnings release for the quarter ending February 1, the company reported a quarterly revenue of $5.4 billion and a net profit of $48 million. In comparison, last year the company earned a revenue of $5.96 billion and had a net profit of $186 million
Yahoo
2 days ago
- Business
- Yahoo
Macy's Maintains Sales Outlook
Macy's Inc. posted better-than-expected quarterly results a sign the company's strategy of focusing on its best-performing locations is paying off despite weakening consumer sentiment and tariff volatility. Bloomberg's Romaine Bostick has more on the story. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
