Adaptimmune stock plunges after announcing Nasdaq delisting plans
CHINA GROVE, N.C. - Macy’s, Inc. (NYSE:M), a prominent player in the Broadline Retail industry with annual revenue of $22.7 billion, opened a new customer fulfillment and store replenishment center in China Grove, North Carolina on Thursday, marking a significant expansion of its supply chain network. According to InvestingPro data, the company maintains a robust market position with a market capitalization of $4.8 billion and a strong financial health score.
The 2.5 million square foot facility is the company’s largest to date and features state-of-the-art automation technology and an advanced warehouse management system. According to the company, the center will initially support fulfillment and store replenishment for the Macy’s brand, with plans to expand to additional nameplates over the next two years. This expansion comes as Macy’s shows strong momentum, with its stock trading near its 52-week high of $18.47 and delivering a remarkable 67% return over the past six months.
Located in the Southeast region, the facility aims to enable faster delivery times and more efficient service for customers. The company stated that the center’s design allows more orders to be shipped from a single location, potentially reducing the number of boxes needed for customer orders.
"With this investment, we’re building a faster, more efficient and agile network designed to meet our customers’ needs today and in the future," said Tom Edwards, chief operating officer and chief financial officer of Macy’s, Inc.
The China Grove location is Macy’s third site to implement high performance automation but the first to operate with an advanced warehouse management system. At previous automated locations, the company reported that productivity more than doubled.
As part of the opening, Macy’s announced a $250,000 commitment to support local organizations, including the development of an automation training lab at Rowan-Cabarrus Community College.
The new facility represents a component of what the company refers to as its "Bold New Chapter strategy" to modernize operations, according to the press release statement.
In other recent news, Constellation Energy Generation has entered into a significant financial agreement, securing a $7 billion revolving credit facility. This agreement involves a partnership with JPMorgan Chase Bank and other financial institutions, providing $4.5 billion in immediate revolving credit commitments. An additional $2.5 billion will be accessible upon meeting certain conditions related to Constellation’s acquisition of Calpine Corporation. Meanwhile, TPG Twin Brook Capital Income Fund has amended its credit facilities, resulting in reduced interest rates and extended maturity dates. The changes include a lower interest rate on revolving loans and an extension of the final maturity date to October 1, 2030. In analyst activity, BTIG initiated coverage on Macy’s with a Neutral rating, noting the company’s strategic progress but expressing caution due to recent stock price appreciation. Additionally, an affiliate of Navient Funding announced plans to submit a Hold Order for all Class A-6B Notes in upcoming auctions. Lastly, Kidoz Inc. has scheduled its Annual General Meeting of Shareholders for November 25, 2025, providing details on participation and voting procedures.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.