What Macy's Got Right in Q1

17 May, 2018, 01:44 | Author: Darnell Patrick
  • Macy's (M) Upgraded to Positive by OTR Global

The stock climbed as much as 9.4 percent to $32.74 as of 9:39 a.m.in NY, the biggest intraday advance since February 27.

Like many department store chains, Macy's has to contend with threats from an ever-growing Amazon as well as more competition from discount chains like Walmart and Target, both of which have aggressively invested in online commerce. Oppenheimer Asset Management Inc. increased its stake in shares of Macy's by 80.7% during the first quarter. It's also testing more curated merchandise displays and localized marketing. Its founder, Rachel Shechtman, will join Macy's to focus on customers' in-store experiences.

The company said all three of its divisions - Macy's, Bloomingdale's and Bluemercury - exceeded expectations during the first quarter of fiscal 2018. He said results are improving at its stores, coupled with robust online and mobile growth.

Gennette cited "significant improvements" in worldwide tourism adding to robust consumer spending in the quarter. "While we have more work to do, the continuing improvement in our stores is encouraging and we once again achieved double-digit growth in the digital business". Comparable sales on an owned basis were up 3.9 percent in the first quarter and up 4.2 percent on an owned plus licensed basis. The spending gains were spread across most retail categories, especially big increases at furniture and clothing stores. In fact, it's been a great year to be a department-store investors, as Kohl's (KSS) and Dillard's (DDS) have gained 16.8% and 18.3%, respectively, and even Nordstrom (JWN) has gained 6%, despite numerous setbacks in its hopes to go private. Further, it has been operating in a friendly economy environment, marked by strong consumer sentiment and spending, he said. The company has come to a mutual agreement to end the joint venture with Fung Retailing Limited. Part of the jump can be attributed to the fact that Macy's shifted a friends and family promotional event to the first quarter from the second quarter this year.

Net income attributable to Macy's shareholders rose to $139 million, or 45 cents per share, in the first quarter ended May 5, from $78 million, or 26 cents per share, a year earlier.

Excluding impairment and other one-time costs, Macy's earned $0.48 per share, $0.11 higher compared with what analysts had anticipated. For the next financial year, analysts expect that the firm will post sales of $24.59 billion per share, with estimates ranging from $24.34 billion to $24.86 billion.

Other equities research analysts have also recently issued research reports about the stock.

Macy's revenue rose 3.6% to $5.54 billion. The sales of the store got an increase of 4.2 percent compared to the expected 1.4 percent.

For the full year, Macy's expects earnings per share of between $3.75 and $3.95, $0.20 higher than its previous forecast. The firm has a market capitalization of $9,521.95, a P/E ratio of 8.29, a P/E/G ratio of 1.01 and a beta of 0.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.45 and a current ratio of 1.47.

However, Macy's said it would remain active on Alibaba's social media channels and Tmall platform.

Macy's Inc shares rose $2.57 (+8.59%) in premarket trading Wednesday.


  • Yanny or Laurel? Two tribes at war over internet clip audio illusion

    Yanny or Laurel? Two tribes at war over internet clip audio illusion

    One theory presented in the Guardian is that the illusion is an example of "perceptually ambiguous stimulus". So, the good (and infuriating) news is that whatever you, your friends, and your coworkers hear is correct.
    Lars shocks them at Cannes

    Lars shocks them at Cannes

    In the end, it looks like The House That Jack Built might end up being shocking for the sake of being shocking and little else. In fact, the overall reaction seemed to be positive as it received a six-minute long standing ovation in the theater.
    Novak Djokovic dumped out of Madrid Open by Britain's Kyle Edmund

    Novak Djokovic dumped out of Madrid Open by Britain's Kyle Edmund

    Meanwhile, second-seed Caroline Wozniacki was taken to three sets by Ashleigh Barty but eventually prevailed 6-2, 4-6, 6-4. I tried but obviously, yeah, wasn't to be to today. "I try to always remind myself and be grateful of that".
  • Cardinals WR Christian Kirk Arrested For Disorderly Conduct and Property Damage

    Cardinals WR Christian Kirk Arrested For Disorderly Conduct and Property Damage

    The group was intoxicated at the time, according to a statement from the Scottsdale Police. He and friends allegedly were throwing rocks at cars in a parking lot.
    Taliban Attack Tests Afghan Forces Near Iran Border

    Taliban Attack Tests Afghan Forces Near Iran Border

    In 2017 insurgents tried three times to overrun the capital, according to the Afghanistan Analysts Network. They have been posting images on social media which they claim shows them inside the city.
    Former PM Mahathir Mohamad storms back to power in Malaysia

    Former PM Mahathir Mohamad storms back to power in Malaysia

    He was spurred out of retirement by allegations that Najib oversaw the wide-scale looting of sovereign wealth fund 1MDB. Anwar is in prison on corruption and sodomy charges that were widely denounced as politically motivated.
  • Michigan State Settles Nassar Suit for $500M

    Michigan State Settles Nassar Suit for $500M

    Michigan State and legal professionals for 332 victims introduced Wednesday that they've reached a $500 million settlement. Attorney James White said $425 million will be paid now while another $75 million will be held in reserve.
    Lewis Hamilton:

    Lewis Hamilton: "I'm Really, Really Happy" With Dominant Victory

    Wolff sympathised with his rivals at the Scuderia. "First, we were not quick enough", said Vettel. "Ferrari did the opposite". At the start, Hamilton got a good start and teammate Bottas was slower away.

    Today May 10 iShares MSCI New Zealand ETF (ENZL) Drops 0.74%

    The Average Directional Index or ADX is technical analysis indicator used to discern if a market is trending or not trending. The indicator is non-directional meaning that it gauges trend strength whether the stock price is trending higher or lower.
  • DFB chief slams Ozil, Gundogan photos with Turkish president

    DFB chief slams Ozil, Gundogan photos with Turkish president

    However, he said: "They were unaware of the symbolism of these pictures, but we can not endorse it, and we will discuss the matter with the players".
    Wayne Rooney Moves A Big Step Closer To Joining DC United

    Wayne Rooney Moves A Big Step Closer To Joining DC United

    Everton manager Sam Allardyce has prioritised the signing of a top goalscorer as he aims to take the club into the top six. Wayne Rooney has played his last game for Everton after saying his goodbyes on Saturday, according to Sky Sources .
    Post Walmart deal, eBay to exit Flipkart

    Post Walmart deal, eBay to exit Flipkart

    More importantly, it intensifies the battle between Walmart and retail giant Amazon in the emerging Indian e-commerce market. Flipkart has had its fair share of challenges over the past few years despite being a hit among Indian consumers.


Britain 'firmly committed to uphold Iran Nuclear Deal', says British PM
In a 2016 meeting of the Council on Foreign Relation in Washington, Seif said Iran achieved "almost nothing" from the deal. The commission is expected to unveil them to European Union leaders at a summit in Sofia, Bulgaria, on Wednesday.

Facebook has not fully answered data privacy questions, say United Kingdom lawmakers
Ideally, Facebook's in-person inspections of these hundreds of app-makers will turn up the truth sooner rather than later. Three million user accounts have reportedly been compromised in a new Facebook data leak incident.

Trump cedes global leadership by pulling out of Iran nuclear deal
Though the president says he wants to negotiate a new deal, the United States has nearly no leverage to pull that off. This article has been adapted from its original source . "As the president said, we are ready for all options".

Modi seeks foothold in southern India with Karnataka state election
Senior citizens were seen in good numbers standing in queues at various polling stations. Over 2,600 candidates are in the fray - more than 2,400 are men and over 200 are women.

Another Democratic Senator Announces Support For CIA Nominee Gina Haspel
The panel is expected to send the nomination on to the full Senate in coming weeks where confirmation will be tight. She warned that confirming Haspel would send a message to allies that the US approves of what happened after 9-11.

Manchester United vs Watford: Potential XI for Michael Carrick's swansong
Richarlison and Gerard Deulofeu will hope for recalls after being left out of the starting XI for their last match. So far the identity of the player leaving Old Trafford has not been revealed but it could be Anthony Martial.

Australia's Day targets second straight win
The PGA Championship is moving from August to May next year, giving golf a run of big events from early spring to late summer. The field is always among the strongest - last year, only the three full-field majors had a higher-rated field.

Iran's Houthis Fire More Missiles at Saudi Arabia
For decades, Saudi Arabia supported these countries, but its focus has shifted to trying to curb Iran's influence in the region. The cross-border attack by the Iran-allied rebels, known as Houthis, came amid mounting regional tensions after U.S.

Trump Growing Increasingly Upset With Giuliani's Interviews
But Giuliani also delved into issues of foreign policy, an area where he has no assigned role in the Trump administration. Press secretary Sarah Huckabee Sanders said she first learned that Trump reimbursed Cohen during Giuliani's interview.

Trump threatens to take away 'credentials' from news outlets
In a tweet directed at Trump, he wrote: " 'Take away credentials?' These authoritarian impulses of yours are anti-American". He has generally viewed most news coverage as unfair and talked about taking retaliatory measures against journalists.