by Megha Malhotra | Aug 26, 2021 | Credit Ratings
American retailer Macy’s Inc. has been upgraded to BB+ from BB by Fitch. The latest rating action puts the company’s ratings just one notch below investment grade status. Fitch cited Macy’s improving revenue trajectory and strong cost reduction as...
by bondevalue | May 19, 2021 | High Yield Bonds
US retailer Macy’s reported Q1 net profits of $103mn vs. a loss of $3.6bn a year earlier with revenues jumping to $4.7bn, 56% YoY. The results were a surprise as analysts expected a loss in the quarter. Macy’s comparable sales grew 62.5% and 63.9% YoY on an owned and...
