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M

Macy's

$37.18

1.41 (3.94%)

09:54
11/14/18
11/14
09:54
11/14/18
09:54

Macy's to roll out Growth50 to 100 additional stores in 2019

CFO Paula Price says saw strong performance in men's, children's, women's and fine jewelry, offsetting underperformance in fashion watches, women's sportswear. Says new loyalty program is delivering a more engaged customer. Says continues to expect inventory to be down at end of the fiscal year. Says remains committed to using cash to reduce debt. Says credit card revenue is now expected to be $740M to $755M. Says "confident" in Q4 plans. CEO Gennette says segmentation strategy is related to customer behavior. Says bucketed stores into three segments: flagship stores, magnet stores, neighborhood stores. Says customers come to magnet stores for expanded selection. Says mostly includes Growth50 stores. Says Growth50 will be rolled out to 100 additional stores in 2019. Says testing to scale neighborhood stores.

  • 14

    Nov

M Macy's
$37.18

1.41 (3.94%)

08/16/18
RBCM
08/16/18
NO CHANGE
Target $39
RBCM
Sector Perform
Macy's sell-off is 'the function of profit taking', says RBC Capital
RBC Capital analyst Brian Tunick kept his Sector Perform rating and $39 price target on Macy's after its Q2 results, saying the earnings were "solid" and the outlook for the rest of FY18 was encouraging. The analyst believes that the selloff after the results was a "function of profit taking", with the stock having risen about 70% year-to-date, along with a more challenging comparisons in the second half of the year. Tunick states that he expects Macy's business momentum and initiatives to allow it to achieve its FY18 guidance.
09/03/18
GSCO
09/03/18
INITIATION
Target $33
GSCO
Sell
Macy's initiated with a Sell at Goldman Sachs
Goldman Sachs started Macy's with a Sell rating and $33 price target. The firm initiated the Apparel & Accessories space with an Attractive view on department stores and off-price retailers.
09/04/18
GSCO
09/04/18
INITIATION
Target $73
GSCO
Conviction Buy
Goldman starts Nordstrom with Conviction Buy, Macy's with Sell
Goldman Sachs analyst Alexandra Walvis initiated coverage of the Apparel & Accessories Retail sector with an Attractive coverage view. The analyst sees an "ongoing role for select best-in-class brick and mortar retailers" and feels "underappreciated business models" offer upside in select stocks. Walvis initiated coverage of Nordstrom (JWN) with a Buy rating and $73 price target and added the shares to her firm's Conviction List. The company offers a "full price business with a strong omnichannel offer and premium curated product," the analyst tells investors in a research note. On the other side, Walvis started Macy's (M) with a Sell rating and $33 price target. The company's strategic initiatives are insufficient to offset traffic headwinds for its portfolio of large, mall-based stores, Walvis contends. The analyst also put Buy ratings on Kohl's (KSS) and TJX (TJX), and Neutral ratings on Burlington Stores (BURL) and Ross Stores (ROST).
11/02/18
CLVD
11/02/18
NO CHANGE
CLVD
Macy's comp trends improved in October, says Cleveland Research
Cleveland Research analyst Rusty Wilson said Neutral rated Macy's owned comp trends appear to have improved in October driven by cold-weather seasonal product. The analyst raised his Q3 owned comp estimate to 2.5% from 2%-2.5%, versus consensus of 2.6%.

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