On the latest episode of Shopping for Stocks, Editor Maddy Johnson covers another busy week in the retail industry, and gives listeners a rundown of the biggest stories affecting the sector.
Last Tuesday, Macy's M chief financial officer Karen Hoguet warned that the department store giant's profit margins could keep declining. Full-year gross margin could be 60 to 80 points lower year-over-year, and might also be down 100 basis points for the current quarter.
Find out more here: Here's Why Macy's Stock Fell Today
Speaking of Nordstrom, the Seattle-based retailer said last Thursday that it is exploring going private. Shares of the company soared as much as 20% on the news. Nordstrom has formed a group comprised of its co-presidents and a number of independent directors to pursue this possible transaction.
And in one of the biggest retail headlines of the last few months, privately-held J. Crew announced that its long-time CEO, Mickey Drexler, decided to step down after 14 years in the role. He will be succeeded in July by James Brett, who is currently the president of Williams Sonoma's WSM more modern furniture retailer West Elm.
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