-
Macy’s posts disappointing Q3; pursuing real estate options (but no REIT) and outlet growth
Macy’s Inc. on Wednesday blamed warm weather, weak tourist traffic and excessive inventory for the company's worse-than-expected third quarter results. The company said it will not pursue spinning off its properties into a real-estate investment trust, but that it is studying real estate options for some of its most iconic stores.
-
Update on American Apparel
American Apparel’s preliminary results for its third quarter are not looking very good.
The beleaguered retailer said it could not meet the deadline to file a quarterly report for the three months ended Sept. 30, noting that efforts related to its Chapter 11 bankruptcy filing in October have taken up a good deal of its time.
But American Apparel released estimates in which net sales for the quarter were down 19.1% to $126 million.
