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The bank's overhaul plan seeks to cut as many as 35,000 jobs through 2022 and shift focus from the US and Europe to Asian markets.
The restructuring plan "doesn't seem bold enough" to help boost its customer demand, "The Retail Doctor" said.
Macy's reported better-than-expected fourth-quarter earnings and announced a restructuring plan to reduce costs and improve profitability.
Under Armour shares climbed on Tuesday after the company posted strong fourth-quarter earnings, showing its ambitious restructuring plan is working.