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Industry: Email Alert RSS FeedMacy's expected to raise new equity.
Daily News Record, July, 1990 by Rutberg, Sidney
MACY'S EXPECTED TO RAISE NEW EQUITY
NEW YORK (FNS) -- R.H. Macy & Co. will probably raise new equity financing to buy back some of its bonds, but this is not likely until after the Christmas numbers are in, according to Frederick H. Taylor, junk bond analyst for Salomon Brothers.
Taylor said that while this Christmas will be promotional, it "will almost certainly be better than last year. Between being overinventoried and heavy promotions stemming from the Campeau effect, last Christmas was a disaster for Macy's." He added, in a telephone interview, that better cash flow numbers would improve the chances of selling equity both privately and to the public. While noting that it would make sense to buy up the bonds before Christmas because the prices are so...
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