Northcoast Research Downgrades Macy's (M) to Neutral
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Goldman Sachs Comments on Macy's (M) Holiday Data
January 9, 2015 9:06 AM ESTGoldman Sachs maintained a Buy rating on Macy's (NYSE: M) with a price target of $67. The change follows holiday sales data and an announcement regarding restructuring of merchandising and marketing functions, and 14 store closures.
Analyst Stephen Grambling said, "Our FY14/15/16 EPS estimates move... More
Macy's (M) PT Raised to $68 at Credit Suisse
January 9, 2015 7:46 AM ESTCredit Suisse raised its price target on Macy's (NYSE: M) to $68.00 (from $60.00) while reiterating an Outperform rating.
The move follows in-line November/Decembers comps of +2.1%.
For an analyst ratings summary and ratings history on Macy's... More
Market Wrap: Top Starbucks Exec Resigns; Macy's Plans Restructuring; Apple App Store's Strong Jan. Sales
January 8, 2015 5:30 PM ESTMarket wrap for January 8th
End of the Day: S&P 500 up 36.2 to 2,062.14; Dow Jones up 323.4 to 17,907.87; Nasdaq up 85.7 to 4,736.19
* In the week ending January 3, the advance figure for seasonally adjusted initial claims was 294,000, a decrease of 4,000 from the previous week's unrevised level of 298,000. (The Street was looking for a reading of 290,000.) The 4-week moving average was 290,500, a decrease of 250 from the previous week's unrevised average of 290,750.
Macy's (M) Holiday 2014 Comps Rose 2.7%
January 8, 2015 4:01 PM ESTMacy's (NYSE: M) announced that its comparable sales on an owned plus licensed basis rose by 2.7 percent in the months of November and December 2014 combined, compared with the same period last year. This tracks within the companys guidance, provided on Nov. 12, 2014, for a comparable sales increase of 2 percent to 3 percent on an owned plus licensed basis in the full fourth quarter of 2014.
On an owned basis, comparable sales rose by 2.1... More
Macy's (M) Announces Restructuring, Store Closures/Openings
January 8, 2015 4:01 PM ESTMacy's (NYSE: M) announced a series of initiatives to evolve its business model and invest in continued growth opportunities as consumers change the way they shop. Actions include a restructuring of merchandising and marketing functions at Macys and Bloomingdales consistent with the companys omnichannel approach to retailing, as well as a series of adjustments to its field and store operations to increase productivity and efficiency.
Our business is rapidly evolving in response to changes in the way customers are shopping across stores, desktops, tablets and smartphones. We must continue to... More
