NYSE:M

Arkhouse and Brigade Capital Increase Offer to Acquire Macy’s to $24.00 Per Share

Retrieved on: 
Sunday, March 3, 2024
Retail, Professional Services, Department Stores, Finance, Acquisition, Jefferies Group, Management, Fortress Investment Group, Sale, LLP, Fortification, Partnership, Security (finance)

Arkhouse Management Co. LP (together with its affiliates, “Arkhouse”, “we” or “us”), today announced it has submitted an increased all-cash proposal to acquire Macy’s (“Macy’s”, or the “Company”) (NYSE: M) for $24.00 per share along with its partner, Brigade Capital Management (“Brigade”).

Key Points: 
  • Arkhouse Management Co. LP (together with its affiliates, “Arkhouse”, “we” or “us”), today announced it has submitted an increased all-cash proposal to acquire Macy’s (“Macy’s”, or the “Company”) (NYSE: M) for $24.00 per share along with its partner, Brigade Capital Management (“Brigade”).
  • Arkhouse and Brigade have also disclosed additional information about their financing, including identifying Fortress Investment Group LLC (“Fortress”) and One Investment Management US (“OneIM”) as equity capital partners for the proposed transaction.
  • After coordinating with our financing sources, we have increased our offer to $24.00 per share in cash.
  • Cadwalader, Wickersham & Taft LLP is serving as legal counsel and Longacre Square Partners is serving as strategic advisor to Arkhouse.

Macy’s, Inc. Confirms Receipt of Revised, Unsolicited, Non-Binding Proposal from Arkhouse and Brigade

Retrieved on: 
Sunday, March 3, 2024
Department Stores, Home Goods, Catalog, Fashion, Jewelry, Cosmetics, Supply Chain Management, Retail, Footwear, Online Retail, Bank, Wells Fargo

Macy’s, Inc. (NYSE: M) today confirmed that it has received a revised, unsolicited, non-binding proposal from Arkhouse Management Co. LP (“Arkhouse”) and Brigade Capital Management, LP (“Brigade”) to acquire all of the outstanding shares of the Company for $24.00 per share in cash.

Key Points: 
  • Macy’s, Inc. (NYSE: M) today confirmed that it has received a revised, unsolicited, non-binding proposal from Arkhouse Management Co. LP (“Arkhouse”) and Brigade Capital Management, LP (“Brigade”) to acquire all of the outstanding shares of the Company for $24.00 per share in cash.
  • The Macy’s, Inc. Board will carefully review and evaluate the latest proposal consistent with the Board’s fiduciary duties and in consultation with its financial and legal advisors.
  • Macy’s, Inc. does not intend to comment further on Arkhouse and Brigade’s revised, unsolicited non-binding proposal until the Board has completed its review.
  • Bank of America Securities and Wells Fargo are acting as financial advisors and Wachtell, Lipton, Rosen & Katz is acting as legal advisor to the Company.

Macy’s, Inc. Reports Fourth Quarter and Full-Year 2023 Results

Retrieved on: 
Tuesday, February 27, 2024
Footwear, Fashion, Cosmetics, Retail, Jewelry, Home Goods, Department Stores, Investment, Growth, Comparable, Digital, Outlet, Bluemercury, Beauty, Video game

Macy’s, Inc. (NYSE: M) today reported financial results for the fourth quarter and full-year 2023 and provided fiscal 2024 guidance.

Key Points: 
  • Macy’s, Inc. (NYSE: M) today reported financial results for the fourth quarter and full-year 2023 and provided fiscal 2024 guidance.
  • Financial highlights are reported on a 14-week basis for the fourth quarter of 2023 and on a 13-week basis for the fourth quarter of 2022 unless otherwise noted.
  • This compares to diluted earnings per share of $1.83 and Adjusted diluted earnings per share of $1.88 in the fourth quarter of 2022.
  • Gross margin for the quarter was 37.5%, up from 34.1% in the fourth quarter of 2022.

Macy’s, Inc. Announces “A Bold New Chapter” – Challenging the Status Quo to Fundamentally Reposition the Company, Enhance the Customer Experience, Deliver Growth and Unlock Shareholder Value

Retrieved on: 
Tuesday, February 27, 2024
Luxury, Department Stores, Catalog, Fashion, Cosmetics, Jewelry, Footwear, Retail, Online Retail, Growth, Capital, Science, Bluemercury, Environment

Macy’s, Inc. (NYSE: M) today announces its new strategy, A Bold New Chapter, designed to return Macy’s, Inc. to enterprise growth.

Key Points: 
  • Macy’s, Inc. (NYSE: M) today announces its new strategy, A Bold New Chapter, designed to return Macy’s, Inc. to enterprise growth.
  • “A Bold New Chapter serves as a strong call to action.
  • With a strong financial foundation, Macy’s, Inc. is positioned to successfully drive sustainable, profitable growth and create shareholder value.
  • For additional details on A Bold New Chapter, visit macysinc.com/investors.

Macy’s, Inc. Board of Directors Declares Quarterly Dividend

Retrieved on: 
Friday, February 23, 2024
Footwear, Fashion, Online Retail, Retail, Jewelry, Home Goods, Department Stores, Macy's

The board of directors of Macy's, Inc. (NYSE: M) today declared a regular quarterly dividend of 17.37 cents per share on Macy's, Inc.’s common stock, an increase of 5%, payable April 1, 2024, to shareholders of record at the close of business on March 15, 2024.

Key Points: 

The board of directors of Macy's, Inc. (NYSE: M) today declared a regular quarterly dividend of 17.37 cents per share on Macy's, Inc.’s common stock, an increase of 5%, payable April 1, 2024, to shareholders of record at the close of business on March 15, 2024.

Arkhouse Nominates Nine Highly Qualified, Independent Candidates for Election to Macy’s Board of Directors

Retrieved on: 
Tuesday, February 20, 2024
Professional Services, Finance

We have persisted in our attempts to resolve any supposed concerns privately with the Board since the Company’s rejection of our proposal.

Key Points: 
  • We have persisted in our attempts to resolve any supposed concerns privately with the Board since the Company’s rejection of our proposal.
  • The Board's history of poor performance and continued refusal to engage constructively with our credible and motivated buyer group have led us to the decision to nominate a slate of highly qualified, independent directors to reconstitute Macy’s Board.
  • Has served on the Board of Governors for the Real Estate Board of New York and the Citizens Housing and Planning Council.
  • Cadwalader, Wickersham & Taft LLP is serving as legal counsel and Longacre Square Partners is serving as strategic advisor to Arkhouse.

Macy’s, Inc. Announces Receipt of Director Nominations from Arkhouse

Retrieved on: 
Tuesday, February 20, 2024
Luxury, Department Stores, Home Goods, Catalog, Fashion, Cosmetics, Jewelry, Retail, Online Retail, Investment, Bank, Sale, Wells Fargo, Security (finance), Financial adviser

We look forward to sharing more on this value-creating strategy as part of our fourth quarter and full year 2023 earnings report.

Key Points: 
  • We look forward to sharing more on this value-creating strategy as part of our fourth quarter and full year 2023 earnings report.
  • These director nominations by Arkhouse follow the December 1, 2023 unsolicited, non-binding proposal from Arkhouse and Brigade to acquire all of the outstanding shares of the Company for $21.00 per share in cash.
  • Notwithstanding the sole objective of Arkhouse is a sale of Macy’s Inc., our Nominating and Corporate Governance Committee will evaluate Arkhouse’s director candidates.
  • Bank of America Securities and Wells Fargo are acting as financial advisors and Wachtell, Lipton, Rosen & Katz is acting as legal advisor to the Company.

Macy’s, Inc. to Report Fourth Quarter and Full-Year 2023 Results on February 27, 2024

Retrieved on: 
Tuesday, February 20, 2024
Fashion, Online Retail, Retail, Discount, Variety, Technology, Department Stores, Electronic Commerce, Webcast

Macy’s, Inc. (NYSE: M) will report its fourth quarter and full-year 2023 sales and earnings results on Tuesday, February 27, 2024.

Key Points: 
  • Macy’s, Inc. (NYSE: M) will report its fourth quarter and full-year 2023 sales and earnings results on Tuesday, February 27, 2024.
  • The company will host a call and webcast with financial analysts and investors at 8:00 a.m.
  • The call will be hosted by Macy’s, Inc.’s Chief Executive Officer Tony Spring and Chief Operating and Chief Financial Officer Adrian Mitchell.
  • To participate in the call, analysts and investors may call 1-877-407-0832.

Thinking about buying stock in SoundHound AI, Macy's, Ainos, Helius Medical Technologies, or Renalytix?

Retrieved on: 
Monday, March 4, 2024
Multimedia

Each stock is evaluated based on short-term technical, long-term technical and fundamental factors.

Key Points: 
  • Each stock is evaluated based on short-term technical, long-term technical and fundamental factors.
  • Each of those scores is then combined into an overall score that determines a stock's overall suitability for investment.
  • InvestorsObserver provides patented technology to some of the biggest names on Wall Street and creates world-class investing tools for the self-directed investor on Main Street.
  • We have a wide range of tools to help investors make smarter decisions when investing in stocks or options.

Thinking about buying stock in TOP Financial Group, Macy's, MicroCloud Hologram, Cellectar Biosciences, or New York Community Bancorp?

Retrieved on: 
Friday, February 9, 2024
Multimedia

Each stock is evaluated based on short-term technical, long-term technical and fundamental factors.

Key Points: 
  • Each stock is evaluated based on short-term technical, long-term technical and fundamental factors.
  • Each of those scores is then combined into an overall score that determines a stock's overall suitability for investment.
  • InvestorsObserver provides patented technology to some of the biggest names on Wall Street and creates world-class investing tools for the self-directed investor on Main Street.
  • We have a wide range of tools to help investors make smarter decisions when investing in stocks or options.