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M

Macy's

$31.71

0.9 (2.92%)

08:18
01/10/19
01/10
08:18
01/10/19
08:18

Macy's lowers FY18 EPS ex-items view to $3.95-$4.00 from $4.10-$4.30

Macy's is revising sales and earnings guidance for FY18. The company is also providing additional detail on the company's anticipated annual performance for fiscal 2018, noting that there are several weeks left in the quarter. Sees comparable sales owned plus licensed approx. up 2% compares to previous guidance of up 2.3%-2.5%. Sees comparable sales with 53rd week shifted calendar up approx. 2.3%. Sees comparable sales owned 20-30 basis points below comparable sales on an owned plus licensed basis. Sees net sales approx. flat compared to previous guidance up 0.3%-0.7%. Sees credit revenue $755M-$765M compared to previous guidance of $740M-$755M. Sees gross margin down slightly from previous view of up slightly. Sees SG&A dollars excluding asset sale gains up slightly. Sees SG&A rate up slightly from previous view of flat. Sees Diluted EPS excluding settlement charges, impairment and other costs $3.95 to $4.00 from previous view of $4.10-$4.30. Consensus is $4.23. Sees Asset sale gains approx. $360M. Sees inventory position down.

  • 03

    Mar

M Macy's
$31.71

0.9 (2.92%)

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%.
11/27/18
WEDB
11/27/18
NO CHANGE
WEDB
Macy's, Target among engagement winners during holiday period, says Wedbush
Wedbush analyst Jen Redding notes that the U.S. holiday selling season has started off strong, with winning transactions becoming more important than where they occur, as e-commerce selling surged past expectations.The analyst examined his Campaign Tracker to study key marketing and performance indicators across retailers in the peak holiday selling period. Zara, Free People and Anthropologie (URBN), lululemon (LULU), aerie (AEO), Kohl's (KSS), Macy's (M), and Target (TGT) saw strong engagement for the key holiday period with engagement trends well-above respective sector averages, Redding contends.
12/06/18
ATLE
12/06/18
DOWNGRADE
ATLE
Underweight
Macy's downgraded to Underweight from Neutral at Atlantic Equities
12/06/18
12/06/18
DOWNGRADE
Target $28

Underweight
Atlantic says expectations for Macy's too high, downgrades to Underweight
As previously reported, Atlantic Equities analyst Daniela Nedialkova downgraded Macy's to Underweight from Neutral, stating that she sees expectations as too high given that prior year comparisons will be turning tougher for the next several quarters. The past year has been one of recovery, but "2019 may be tougher than 2018," Nedialkova tells investors. Macy's is continuing to execute on its strategic initiatives, which are likely to deliver results, but that improvement will take some time, the analyst added. She lowered her price target on Macy's shares to $28 from $39.

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