Retail Stocks Fall as Macy's Explores Financing and Restructuring Options
Shares of several major retail chains were moving lower on Monday, following a Reuters report that Macy's (NYSE: M) has hired an investment bank to explore options for bolstering its finances.
Here's where things stood for these four stocks as of 2 p.m. EDT today, relative to their closing prices on Friday:
Reuters reported on Sunday that Macy's has hired Lazard, the investment bank, to help it explore options to raise additional cash. The company has also hired lawyers who specialize in restructuring debt, the report said.
Source Fool.com
