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Macy's Store Closures 2025 🛑

And, BlackRock exits climate group.

January 10, 2025

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Today is Friday, January 10, 2025.

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Macy's Store Closures 2025 🛑

Macy’s (NYSE: M) will close 66 stores in 2025, the company revealed on Thursday.

Details: The closures were part of the company’s “Bold New Chapter” strategy, which was announced in 2024 and intended to return the company to profitable sales.

  • The company is closing 150 stores over three years.

Quote: “Closing any store is never easy, but as part of our Bold New Chapter strategy, we are closing underproductive Macy’s stores to allow us to focus our resources and prioritize investments in our go–forward stores.” - CEO Tony Spring.

Stock Price: Macy’s is down 15% in the last 12 months. Since November 2021, the stock is down 50%.

Early Bird’s Nest Egg Gains: Macy's faced significant challenges in 2024 that resulted in declining sales.

  • There were shifts in consumer behavior, including declining mall traffic and shoppers increasingly favoring niche retailers.

  • The company also faced increased competition and there was an accounting problem in late 2024.

Final Thoughts: Macy’s investors better hope the “Bold New Chapter” strategy works.

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Notables

Notable Earnings Today: Delta Air Lines (NYSE: DAL), Walgreens Boots Alliance (Nasdaq: WBA), WD-40 (Nasdaq: WDFC), Tilray (Nasdaq: TLRY), Constellation Brands (NYSE: STZ), Neogen (Nasdaq: NEOG), TD Synnex (NYSE: SNX), E2open Parent Holdings (NYSE: ETWO).

Notable IPOs Today: Mint Incorporation Limited Class A Ordinary Shares (Nasdaq: MIMI), Drugs Made In America Acquisition Corp. Units (Nasdaq: DMAAU).

Notable Equity Crowdfunding Campaigns Ending Today: Gameflip (StartEngine), Dough House Kitchen (Honeycomb), CMN (Netcapital), Krab Kingz Springfield (Honeycomb), My Virtual Physician (Netcapital), Sokah (Netcapital), Heartys (Wefunder), MovementX (Wefunder), Zaftig Brewing Company (Honeycomb).

Notable Economic Events Today: Unemployment Rate (8:30 a.m. ET), Average Hourly Earnings (8:30 a.m. ET), Nonfarm Payrolls (8:30 a.m. ET), Labor Force Participation Rate (8:30 a.m. ET), Michigan Consumer Expectations / Sentiment (10:00 a.m. ET), WASDE Report (12:00 p.m. ET).

BlackRock Exits Climate Group

It appears that investment giant BlackRock (NYSE: BLK) will likely leave an environmentally-focused investor organization.

Details: Reuters reported Thursday that BlackRock will exit the Net Zero Asset Managers Initiative due to pressure from Republican politicians. The company did not comment on the report.

Bigger Picture: This is part of a bigger trend of the incoming administration trying to compel Wall Street to limit environmental investing initiatives.

Stock Price: BlackRock stock is up 24% in the last 12 months.

Final Thoughts: We’ll see what impact this report has on BlackRock’s stock today.

Rocket Lab Partners with NASA

Space company Rocket Lab USA (Nasdaq: RKLB) was selected by NASA on Thursday to provide Neutron launch services to the agency.

Final Thoughts: Rocket Lab’s stock is up 400% (wow!) in the last 12 months.

Not Hip to Be SQ: Block Changes Ticker Symbol to XYZ (MarketWatch)

Tipping Culture Takes a Back Seat: Americans Are Tipping Less Than They Have in Years (Wall Street Journal)

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.