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M

Macy's

$22.00

-1.03 (-4.47%)

10:33
08/10/17
08/10
10:33
08/10/17
10:33

Macy's CFO sees FY gross margin down 50-7 bps y/y, better than June guide

Says digital sales increased double digits in Q2. Hoguet noted that 70 out of 100 doors have already closed or are slated to close; says still planning to close remaining 30 doors. Expects comp sales on owned plus licensed basis for fall season down 0.8% to down 2.6%. Sees Q3 comp sales on owned plus licensed basis down approx. 2.5% "or slightly worse." Sees FY gross margin down 50-70bps vs. 2016, better than June guide. Expects fall gross margin down 20-50bps vs. last year.

  • 10

    Aug

M Macy's
$22.00

-1.03 (-4.47%)

05/12/17
COWN
05/12/17
NO CHANGE
Target $29
COWN
Market Perform
Macy's financial modeling worrisome, says Cowen
Cowen analyst Oliver Chen said the rapid transformation of consumers' shopping preferences presents ongoing challenges to Macy's and other retailers. He said the company needs to reinvent promotional techniques that currently are yielding poor store traffic and higher markdowns. Chen said from a financial modeling perspective he is worried, leading him to maintain his Market Perform rating on Macy's shares and cut his price target to $29 from $44.
06/21/17
GDHS
06/21/17
NO CHANGE
GDHS
Nike-Amazon pact yet another department store headwind, says Gordon Haskett
Gordon Haskett analyst noted the reports of Nike (NKE) nearing a deal to sell directly on Amazon (AMZN), which he said wouldn't impact trends overnight but would represent another headwind for department stores, particularly J.C. Penney (JCP) and Kohl's (KSS), where the brand has a larger penetration than at Macy's (M) and Nordstrom (JWN). He keeps an Accumulate rating on Nordstrom, a Hold rating on Macy's and Reduce rating on both J.C. Penney and Kohl's.
06/07/17
GSCO
06/07/17
NO CHANGE
Target $25
GSCO
Neutral
Macy's price target lowered to $25 from $28 at Goldman Sachs
Goldman analyst Lindsay Drucker Mann lowerd Macy's price target to $25 from $28 to reflect weaker margin trends and operating earnings following the company's Investor Day. The analyst is encouraged by the detail around strategic initiatives and has confidence in -3-4% FY17 comp guidance range. Shares are Neutral rated.
05/12/17
SBSH
05/12/17
NO CHANGE
Target $23
SBSH
Neutral
Macy's price target lowered to $23 from $30 at Citi
Citi analyst Paul Lejuez lowered his price target for Macy's to $23 saying the company's results yesterday "stood out as extremely weak" amid disappointing quarters across the sector. The analyst keeps a Neutral rating on the shares.

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