Macy's Looks to Cut Costs by $400 Million-$550 Million Over Two to Four Years -Reuters
September 05 2019 - 3:40PM
Dow Jones News
By Josh Beckerman
--Macy's Inc. (M) is looking to reduce annual costs by $400
million to $550 million over two to four years, according to a
conference presentation on its website and a Reuters report.
--Macy's is cutting back on discounting in favor of more
targeted promotions, Reuters reported, citing Chief Financial
Officer Paula Price, who spoke at the Goldman Sachs conference.
--Shares recently traded up 3.8% to $15.47.
Full story:
https://www.reuters.com/article/us-macy-s-outlook/macys-sees-savings-of-up-to-550-million-from-targeted-promotions-better-pricing-idUSKCN1VQ20Y
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
September 05, 2019 15:25 ET (19:25 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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