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

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

Luxottica to open LensCrafters concessions at Macy's

November 11, 2015 8:25 AM EST

MILAN (Reuters) - Ray-Ban maker Luxottica (NYSE: LUX) is set to open concessions of its LensCrafters optical retail brand in as many as 500 Macy's shops (NYSE: M) over the next three years after signing an accord with the U.S. department... More

Macy's cuts full-year forecast, sends shivers through retail

November 11, 2015 8:08 AM EST

(In Nov. 11 story, corrects spelling of Michael in paragraph 4)

By Nandita Bose and Sruthi Ramakrishnan

(Reuters) - Warm weather, low spending by tourists and a pileup of unsold inventory prompted Macy's Inc (NYSE: M) to cut its full-year forecast on Wednesday, raising wide concerns about the retail sector's financial health.

Macy's in a quarterly report also said it would not create a real estate investment trust for its stores, disappointing some investors and helping to push down shares 14 percent for the day.

The long spell of warm weather in... 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

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

November 11, 2015 8:01 AM EST

Macy's (NYSE: M) reported Q3 EPS of $0.56, versus the analyst estimate of $0.54. Revenue for the quarter came in at $5.87 billion versus the consensus estimate of $6.12 billion.

Owned comps fell 3.9 percent, versus expectations of a 0.4 percent drop.

Macys, Inc. is pursuing the following strategic real estate initiatives:

Based on a successful collaboration on Macys previously announced Brooklyn store redevelopment project, the company has engaged Tishman Speyer in an expanded relationship to advise and support the companys senior management team in identifying and advancing potential store redevelopment... More