Core Viewpoint - Macy's is closing multiple facilities in Connecticut and laying off over 1,000 workers to simplify operations and modernize its supply chain [1][2]. Group 1: Facility Closures - Macy's will close facilities in South Windsor and Cheshire, with closures beginning in March [1]. - The company is shutting down the South Windsor Distribution Center and the Cheshire Fulfillment Center, impacting approximately 993 jobs [4][7]. - The closures are part of a broader strategy, as Macy's plans to close 14 stores across 12 states [3]. Group 2: Layoff Details - Over 1,000 workers will be laid off, with the majority from the Cheshire location, including 485 fulfillment associates, 193 power equipment operators, and 72 inventory control and quality assurance workers [1]. - The layoffs will occur in phases, with specific dates for different positions ranging from March 14, 2026, to August 29, 2026 [7][8]. - A small number of workers will remain employed until April 2027 for decommissioning and equipment removal [8]. Group 3: Employee Support - Macy's plans to provide laid-off employees with information about transfer opportunities to other nearby Macy's locations [2].

Core Insights - Macy's has exceeded Wall Street's sales expectations for three consecutive quarters, indicating a positive trend in its turnaround strategy [1][4] - The company has raised its full-year sales and earnings outlook following a better-than-expected fiscal third quarter [2][4] Financial Performance - Adjusted earnings per share are now expected to be between $2 and $2.20, an increase from the previous range of $1.70 to $2.05 [2] - Projected net sales for the year are between $21.48 billion and $21.63 billion, up from the prior outlook of $21.15 billion to $21.45 billion [2] - Comparable sales growth is expected to be flat to approximately 0.5%, a significant improvement from earlier expectations of a decline between 0.5% and 1.5% [3] Strategic Initiatives - The company is focusing on improving sales consistency, particularly for its Macy's brand, which has lagged behind Bloomingdale's and Bluemercury [7] - Investments in staffing, merchandise, and store displays have been increased, with a strategy initially rolled out at 50 locations now expanded to 125 [7] - Macy's plans to permanently close about 150 underperforming stores by early 2027 while expanding Bloomingdale's and Bluemercury locations [8] Recent Quarterly Results - For the fiscal third quarter, net income fell to $11 million, or 4 cents per share, down from $28 million, or 10 cents per share, in the previous year [9] - Adjusted earnings per share were reported at 9 cents, surpassing the expected loss of 14 cents [10] - Revenue for the quarter was $4.71 billion, exceeding expectations of $4.62 billion, although it decreased from $4.74 billion in the year-ago quarter [10][11] Brand Performance - Bloomingdale's showed the strongest performance with a 9% year-over-year increase in comparable sales [12] - Bluemercury's comparable sales increased by 1.1% [12] - Macy's shares have risen approximately 34% year-to-date, outperforming the S&P 500's 16% gains [12]

Core Insights - Dillard's is outperforming expectations and reaching all-time highs in stock price, with shares up 5.4% recently [1] - The company reported a 1.4% increase in revenue and a 1% rise in same-store sales compared to the previous year, despite a slight decline in margins and a 2.3% drop in net income [2] - Earnings per share (EPS) increased by 1.5% to $4.66, significantly beating analyst expectations by over 10% [2] - CEO William T. Dillard indicated stronger sales trends in July, suggesting positive momentum for the current quarter [3] - Dillard's unique strategy of owning real estate rather than leasing allows for competitive pricing and profitability [3] - The company's ownership structure, with over 50% of shares held by the Dillard family and employee stock fund, differentiates it from other department stores [5] - Despite recent gains, shares are trading at a modest 14.5 times earnings, indicating a reasonable valuation for a consistently profitable company [6]