S&P Equity Research Maintains 'Sell' Rating on Macy's (M)
More News related to M
- Notable ETF Movers: SLX, EWJ, USO Higher; UNG, XRT Lower
- Black Friday Adds to Confusion for Retailers
- Bloomingdale's Chairman Sees Jewelry Sales Up 20% at the End of November, Calls Consumer 'Confident'
- The Magic of Christmas: Macy's Celebrates the Holidays With Communities Across the Country
- Project Runway Season 6 Winner to Have Holiday Dress Available Exclusively at Macy's
More News related to Analyst Comments
- Analyst Sees Google (GOOG) Headed Higher
- RBC Lifts Price Target on Best Buy (BBY) to $49
- Broadpoint.AmTech Lowers Est and Price Target on Research In Motion (RIMM), But Sticks With Buy Rating
- Deere (DE) Shares Rising as Analysts Getting Bullish
- Soleil Calls Fertilizer Stocks 'Over-Valued', Recommends Taking Profits (POT, MOS, IPI)
S&P Equity Research maintains 'Sell' rating on Macy's (NYSE: M).
S&P analyst, J. Asaeda, says, "Apr-Q operating EPS of $0.02 vs. $0.16 misses our $0.05 estimate, reflecting markdowns and expense de-leveraging off a 2.6% same-store sales decline, larger than we expected. Given remerchandising efforts in private brands, we are disappointed that women's ready-to-wear was one of M's weakest selling categories. Without "must have" offerings, we believe it will be tough for the company to arrest its negative same-store sales trend despite easing comparisons. We trim our FY 09 (Jan.) operating EPS forecast by $0.03 to $1.82 and reiterate our 12-month target price of $20."
Macy's, Inc., formerly Federated Department Stores, Inc., is a retail company operating retail stores that sell a range of merchandise, including men’s, women’s and children’s apparel and accessories, cosmetics, home furnishings and other consumer goods. [SM]
Related Categories
Analyst CommentsStocks Mentioned
-0.66Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
