Joined: 07 Sep 2008
Posts: 51
Location: The great Midwest
| Posted: Sat Mar 07, 2009 2:17 am Post subject: Macy's to File Chapter 11 Bankruptcy??? | |
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http://www.gurufocus.com/news.php?id=50526
Scroll down for the part on Macy's. (although I don't like Macy's being compared to Sears and J.C. Penney -- the merchandise in Macy's is better, IMO.) In other articles I have read, Goldman Sachs is going to upgrade Macy's again. If they really would go bankrupt, shouldn't they cut Terry's perks like his personal makeup artist and his Botox treatments??? 
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Joined: 03 Jan 2008
Posts: 1217
Location: ole wrap stand
| Posted: Sat Mar 07, 2009 3:58 am Post subject: | |
Oh just great  more gossip around the ye old wrap stand..aka BAR.. 
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Joined: 30 Nov 2008
Posts: 919
Location: CA
| Posted: Sat Mar 07, 2009 5:13 am Post subject: | |
| I wouldn't be surprised. We have customers with the wal-mart mind set along with wal-mart prices. | |
Joined: 06 Jan 2008
Posts: 1810
Location: It's NewDepotGuy - Using Acid to open Polli's special safe!
| Posted: Sat Mar 07, 2009 9:36 pm Post subject: | |
| I don't see it happening. Macy's is having issues - but almost every retailer is suffering right now. Dillard's will go before Macy's, as well as Bon-Ton and a few other well known retailers. | |
Joined: 12 Dec 2007
Posts: 883
| Posted: Sun Mar 08, 2009 12:31 am Post subject: | |||
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Joined: 09 Aug 2008
Posts: 364
| Posted: Sun Mar 08, 2009 12:48 am Post subject: | |||
Agreed, FOM. |
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Joined: 06 Jan 2008
Posts: 1810
Location: It's NewDepotGuy - Using Acid to open Polli's special safe!
| Posted: Sun Mar 08, 2009 12:49 am Post subject: | |
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Face it - Every company has it's own issues - Look at Dillard's, their management is so inbred that its not even funny. Even though its a public company the Dillard family still has control, and a Dillard is at the helm. They are refusing to accept that consumers are changing. Macy's is at the very least attempting to address these changes.
Lundgren is not a good CEO and a lot of the issues could be solved by his ouster, but a lot could get worse by his replacement. As for the stock price, every stock has stumbled significantly recently - not just Macy's. I mean look at how much could change if for instance MAYcylady, EXemployee, or myself took the reigns!!!! I would require everyone to wear hockey equipment when we opened our hockey departments, MAYcyaldy would require everyone to work in Florida Wear, and EX would require everyone to drive snow plows while wearing red star wigs! Macy's has been progressive towards its changes - however it's reliance on private labels won't soon go away. Private labels marketed by Macy's have a higher profit margin. Often these margins are 90% and from the prospective of management if I can sell a INC, Style & Co., Alfani, Green Dog, Karen Scott, or Charter Club item for a 60-90% profit margin versus the 10-20% on traditional designer brands, I am going to go for the goal and make as much as I can. The issues that this company is experiencing are normal right now. At least Lundgren's contract ends in 2011 and possibly then things will get better. If all else fails Mother Macy's survived it once, they can survive it again! Macy's stock was recently upgraded from Underperform to Neutral by different financial institutions and that a $8 target price is idealistic for Macy's in it this current economy. http://money.cnn.com/news/newsfeeds/articles/djf500/200903061343DOWJONESDJONLINE000836_FORTUNE5.htm |
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