Macy's (M) Misses Q2 EPS by 13c; Will Sell Downtown Brooklyn Property
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G-III Apparel (GIII) Defended at Piper Jaffray
August 12, 2015 2:55 PM EDTPiper Jaffray maintained an Overweight rating on G-III Apparel (NASDAQ: GIII) with a price target of $86. Analyst Erinn E. Murphy said the stock's reaction to Macy's (NYSE: M) call was overdone and recommended buying weakness.
"Early this morning,... More
JPMorgan Downgrades Macy's (M) to Neutral
August 12, 2015 2:23 PM EDTJPMorgan downgraded Macy's (NYSE: M) from Overweight to Neutral.
For an analyst ratings summary and ratings history on Macy's click here. For more ratings news on Macy's click here.
Shares of Macy's closed at $67.53 yesterday.
... MoreStifel Sees Near-Term Weakness in Macy's (M), But Longer-Term Plan Still Intact
August 12, 2015 9:25 AM EDTStifel is out with initial commentary on Macy's (NYSE: M) following Q2 results and strategic initiative announcements. The firm has Macy's at Buy with a price target of $75.
Analyst Richard Jaffe noted that Macy's Q2 EPS of $0.64 miss the firm's $0.77 estimate. The analyst commented, We anticipate near term weakness at... More
Macy's (M), Tishman Speyer Enter Real Estate Purchase-and-Sale Agreement in Brooklyn
August 12, 2015 8:08 AM EDTMacy's (NYSE: M) and Tishman Speyer announced they have signed a real estate purchase and sale agreement that will enable a re-creation of Macys Brooklyn store and further enliven one of New York Citys most dynamic, transit-rich neighborhoods.
Under the agreement, Macys will continue to own and operate the first four floors and lower level of its existing nine-story Fulton Street retail store, which will be reconfigured and remodeled. Tishman Speyer will purchase the portion of the site that Macys will not retain, which it will develop into approximately ten floors of... More
Macy's (M) Enters Free-Standing Joint Venture with Fung Retailing
August 12, 2015 8:07 AM EDTMacy's (NYSE: M) announced it has formed a free-standing joint venture with Hong Kong-based Fung Retailing Limited (a privately-held enterprise; see footnote below) to explore retailing in China, one of the worlds largest and fastest-growing consumer marketplaces.
The joint venture, which is 65 percent owned by Macys and 35 percent owned by Fung Retailing, will start with an e-commerce pilot. For Macys, already a popular destination for Chinese-Americans and Chinese visitors to the United States, the joint venture is expected to develop significant new learnings on customer preferences and buying patterns within... More
