Stifel Keeps Macy's (M) at Hold Following 'Challenging' Q2; EPS, Margins Outpace Expectations
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UBS Remains Sidelined on Macy's (M) Following 2Q Beat and Announced Store Closures
August 12, 2016 9:11 AM EDTUBS reiterated a Neutral rating on Macy's (NYSE: M), and raised the price target to $40.00 (from $33.00), following the company's 2Q earnings report and announced closures. Macy's reported EPS of $0.54 ahead of the Street's $0.45 estimate. Macy's will close 100 doors near year-end. A ~$1B sales reduction (-4%).... More
Macy's to close more stores in turnaround push, stock jumps
August 11, 2016 8:20 AM EDTBy Sruthi Ramakrishnan
(Reuters) - Macy's Inc (NYSE: M) said it plans to shutter 100 more stores, representing about 14 percent of its total, as it tries to turn around its business after six quarters of falling sales.
The closures are the latest in a long list of moves to spur growth as department stores such as Macy's continue to battle with online retailers such as Amazon.com Inc (NASDAQ: AMZN) and discount stores like TJX Cos Inc (NYSE: TJX).
... MoreMacy's (M) Tops Q2 EPS by 9c, Comps Fell 2.6%; To Close 100 Stores
August 11, 2016 8:00 AM EDT(Updated - August 11, 2016 8:01 AM EDT)
Macy's (NYSE: M) reported Q2 EPS of $0.54, $0.09 better than the analyst estimate of $0.45. Revenue for the quarter came in at $5.87 billion versus the consensus estimate of $5.74 billion.
Comparable sales on an owned plus licensed basis... More
