Mari Shor | Source | Equity Research Analyst at Columbia Threadneedle Investments

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Mari Shor

Equity Research Analyst at Columbia Threadneedle Investments
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Mari is a Equity Research Analyst at Columbia Threadneedle Investments, a leading global asset management group. She is experienced in equities, hedge funds, investments, fixed income, and alternative investments.

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  • Macy's to close 150 stores in new turnaround effort, forecasts weak 2024 sales

    NEW YORK (Reuters) -Macy's on Tuesday forecast annual sales and profit below expectations and said it would shutter about 150 stores through 2026 as part of a new plan that would help save $100 million in costs this year. Its shares rose 7% as the department store chain also beat quarterly profit estimates. The locations made up for less than 10% of Macy's annual sales and were mostly underperforming mall-based stores, CFO Adrian Mitchell told Reuters.

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  • Cutting off the unproductive tail will have immediate benefits for the sales productivity and profitability of the company.

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