Equities research firm Zacks downgraded Macy's (M) shares from 'strong-buy' to 'hold' on February 4, 2026.
The rating adjustment follows Macy's ongoing corporate restructuring plan, titled 'A Bold New Chapter.'
The strategy involves closing approximately 150 underproductive stores by the end of 2026. Macy's simultaneously invests in its 350 best-performing locations.
Concurrently, Macy's expands its luxury portfolio by adding more Bloomingdale's and Bluemercury stores.