Macy's cuts full-year forecast, sends shivers through retail
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November 13, 2015 8:30 AM ESTNomura Securities reiterated a Neutral rating on Fossil (NASDAQ: FOSL), and cut the price target to $40.00, following the company's 3Q report. Watch sales remain under pressure, a fact not helped by KORSs prior success. Management noted that excluding KORS decline, watch sales were flat on a constant... More
Fossil Group (FOSL) Misses already Negative 3Q Expectations; Piper Jaffray Cuts Price Target to $25
November 13, 2015 8:17 AM ESTPiper Jaffray Reiterated an Underweight rating on Fossil (NASDAQ: FOSL), and cut the price target to $25.00 (from $46.00), following a negative 3Q. Results for the company's 3Q came in below the already negative expectations. FOSL reported Q3 sales down 14% Y/Y to $771M, below the Street at $795M. Q3 EPS was $1.19... More
UBS Slashes Macy's (M) Estimates
November 12, 2015 9:00 AM ESTUBS 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
Light Domestic Spending Hampered Macy's (M) Q3 Results, Outlook; Stifel Still Favorable on L-T Initiatives
November 11, 2015 10:10 AM ESTStifel 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
