Macy's shares soared Tuesday morning after the company far exceeded profit estimates. The retailer also said it reached an agreement to sell some of its real estate assets to Brookfield Asset Management. Joining The Long and The Short to discuss is Melissa Gonzalez, CEO, and Founder of The Lionesque Group and Melissa Armo, Founder of The Stock Swoosh.
Armo says she's pleasantly surprised by Macy's gaining such a big lead at the beginning of the year. She believes tax reform will also help a lot of the retailers, including Macy's, throughout 2018. However, she thinks Macy's still needs to figure out a way to bring more foot traffic to the stores. Gonzalez is excited about Macy's improving e-commerce business and the decision to scale back the discounts and flash sales.
Plus, is real estate retail's next big asset? Gonzalez says it's a smart move to partner with Brookfield Asset Management and sell off some office space, similar to what Lord & Taylor did with WeWork. However, Macy's ultimately needs to bring more customer experiences to the store to compete with the elephant in the room, Amazon.
Google on Monday will try to protect a lucrative piece of its internet empire at the same time it’s still entangled in the biggest U.S. antitrust trial in a quarter century.
Before the SAG-AFTRA strike, this was the weekend “Dune: Part Two” was supposed to open. When Warner Bros. and Legendary pushed that opening back to March 2024 and no other blockbuster stepped in to take its spot.
A growing number of Californians are planting agave to be harvested forz use in spirits. The trend is fueled by the need to find hardy crops that don’t need much water and a booming appetite for premium alcoholic beverages.
Big Business This Week is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street. This week we highlight Paramount, Maersk, Starbucks, Uber, Lyft and Beyond Meat.
With Donald Trump due on the witness stand next week, testimony from his adult sons in his civil business fraud trial wrapped up Friday with Eric Trump saying he relied completely on accountants and lawyers to assure the accuracy of financial documents key to the case.
DraftKings reported better-than-expected revenue in the third quarter.
Wallet Hub released a list of the 10 states with the highest median monthly student loan payments.
Oil and gas giant BP will purchase electric vehicle chargers from Tesla for $100 million.
Reports say olive oil prices have jumped 75% since January of 2021.
The big three car companies for GM and Stellantis have agreed to pay striking workers as they spend time on the picket line, according to The Wall Street Journal.
