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M

Macy's

$27.45

0.71 (2.66%)

08:03
02/27/18
02/27
08:03
02/27/18
08:03

Macy's sees FY18 adjusted EPS $3.55-$3.75, consensus $3.66

For fiscal 2018, the company expects comparable sales on both an owned and an owned plus licensed basis to be flat to up 1 percent. Total sales are expected to be down between 0.5 percent and 2 percent in fiscal 2018. Adjusted earnings per diluted share of $3.55 to $3.75 are expected in fiscal 2018, excluding anticipated settlement charges related to the company's defined benefit plans. Adjusted earnings per diluted share include anticipated asset sale gains of $300 million to $325 million in fiscal 2018, compared to $544 million in asset sale gains for fiscal 2017. The company anticipates an effective annual tax rate of 23.25 percent for fiscal 2018. The company is strategically investing to accelerate the rollout of a number of near-term growth initiatives impacting stores, technology and merchandising. The company has also developed an employee incentive program to drive results and engagement with associates at every level of the organization, with an emphasis on its hourly associates. These investments are expected to support the company's return to comparable sales growth in fiscal 2018.

  • 27

    Feb

  • 18

    Mar

M Macy's
$27.45

0.71 (2.66%)

12/18/17
OTRG
12/18/17
UPGRADE
OTRG
Mixed
Macy's upgraded to Mixed from Negative at OTR Global
OTR Global upgraded Macy's to Mixed following checks that indicate sell-through is meeting or exceeding plan driven by strong ecommerce trends.
01/02/18
MSCO
01/02/18
NO CHANGE
MSCO
Kohl's, Macy's Q4 same-store sales estimates raised at Morgan Stanley
Morgan Stanley analyst Kimberly Greenberger said that overall retail traffic appeared solid following Christmas, adding that store checks and third party data points suggest better performance at Kohl's (KSS) and Macy's (M) than she originally anticipated. Greenberger raised her Q4 Kohl's comparable sales estimate to down 1% from down 3% and increased her comp sales estimate for Macy's to down 2% from down 2.5%. However, she maintains an Underweight rating on Kohl's shares and an Equal Weight rating on Macy's.
01/05/18
BMOC
01/05/18
NO CHANGE
Target $38
BMOC
Outperform
Macy's price target raised to $38 from $35 at BMO Capital
BMO Capital analyst Wayne Hood raised his price target on Macy's to $38 and kept his Outperform rating after the company's Nov-Dec comps completed the first positive SSS Q4 since 2014. Hood notes "encouraging" improvement in brick-and-mortar comps as well as double digit growth in digital platforms, forecasting further upside from " improving consumer spending setup from tax reform and falling unemployment that could be far reaching". The analyst raises his FY17 EPS forecast to $3.63 from $3.53 and FY18 forecast to $3.18 from $2.63, reflecting a lower effective tax rate of about 25%.
02/05/18
JEFF
02/05/18
NO CHANGE
Target $100
JEFF
Buy
Bon-Ton Stores bankruptcy benefits Kohl's, says Jefferies
Jefferies analyst Randal Konik notes that Bon-Ton Stores filed bankruptcy protection and provided the locations of the about 50 units slated for closure. The analyst now estimates near-term closures from Macy's (M), Sears (SHLD), Kmart, and Bon-Ton (BONT) should add about 18c to Kohl's (KSS) EPS and a 1.5% comp lift. Moreover, Konik believes the materialization of Bon-Ton's closures could be a "cherry on top" to accelerating fundamentals at Kohl's this year. He reiterates a Buy rating and $100 price target on Kohl's shares.

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