Macy's (M) Tops Q3 EPS Views; Trims FY15 EPS Outlook; Will Not Pursue REIT Structure

Northcoast Research Upgrades Macy's (M) to Buy

November 12, 2015 10:08 AM EST

Northcoast Research earlier upgraded Macy's (NYSE: M) from Neutral to Buy with a price target of $53.00.

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 $40.44 yesterday.

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UBS Slashes Macy's (M) Estimates

November 12, 2015 9:00 AM EST

UBS analyst, Michael Binetti slashed his estimates and price target on Macy's (NYSE: M) after publishing a conservative earnings preview earlier in the week.

He reduced 4Q EPS est to $2.60 from $3.05which includes $250m of asset sale gainsbased on:

1) -3.5% SSS (ex-licenses)

2) GM: -100bp... More

Evercore ISI Downgrades Macy's (M) to Hold

November 11, 2015 3:57 PM EST

Evercore ISI downgraded Macy's (NYSE: M) from Buy to Hold.

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 $47.02 yesterday.

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J.C. Penney (JCP), Nordstrom (JWN) 'Unfairly' Dragged Lower by Macy's (M), Says Deutsche Bank

November 11, 2015 12:59 PM EST

Deutsche Bank maintained a Hold rating on Macy's (NYSE: M) and lowered its price target to $43.00 (from $59.00). The change follows disappointing Q3 results. In the view of analyst Paul Trussell, Macy's results are unfairly dragging down shares of J.C. Penney (NYSE: JCP) and Nordstrom (NYSE: JWN).

"Although the bar was very low heading into... More

Light Domestic Spending Hampered Macy's (M) Q3 Results, Outlook; Stifel Still Favorable on L-T Initiatives

November 11, 2015 10:10 AM EST

Stifel affirms its Buy rating and $60 price target on Macy's (NYSE: M) following Q3 results and an update on REIT conversion plans.

Analyst Richard Jaffe noted that Macy's Q3 EPS of $0.56 came in above the firm's $0.54 outlook. The analyst noted weak sales, with comps falling 3.9 percent, were largely related to lower domestic spending.

Jaffe noted the... More

Macy's (M) , Luxottica (LUX) Enter Agreement to Bring LensCrafters to Certain U.S. Macy's Locations

November 11, 2015 8:03 AM EST

Luxottica Group S.p.A. (NYSE: LUX) and Macy's (NYSE: M) announced an agreement to bring the LensCrafters optical retail experience to as many as 500 Macys department stores in the U.S. over the next three years.

The licensed department agreement builds on a successful relationship between the two companies that has resulted in the opening of approximately 670 of Luxotticas Sunglass Hut locations within Macys stores to date. Together, Macys and Sunglass Hut have more than tripled the size of the... More

Wall Street ends lower as oil and retailers weigh

November 11, 2015 7:27 AM EST

By Noel Randewich

(Reuters) - U.S. stocks finished lower on Wednesday after investors sold oil companies and dumped brick-and-mortar retailers after a disappointing forecast from Macy's.

Energy stocks were bogged down by a more than 3 percent drop in oil prices to their lowest since mid-September on worries about growing U.S. stockpiles.

The S&P energy sector lost 1.91 percent, the steepest decline among the 10 major S&P sectors. Exxon Mobil (NYSE: XOM) slipped 0.89 percent and weighed most on the S&P along with Apple (NASDAQ:... More