Macy's forecast helps trigger sell-off in U.S. retailers

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Go back to Macy's forecast helps trigger sell-off in U.S. retailers

S&P Downgrades Fossil Group (FOSL) Corp. Rating to Junk; Outlook Stable

May 12, 2016 2:15 PM EDT

S&P Global Ratings lowered its corporate credit rating on Fossil Group Inc. (Nasdaq: FOSL) to 'BB+' from 'BBB-'. The outlook is stable.

Concurrently, we lowered our issue-level rating on the company's $1.05 billion revolving credit facility and $231.25 million term loan to 'BB+' from 'BBB-' and assigned a '3' recovery ratings to these debt instruments, indicating our expectation for meaningful... More

Oppenheimer Remains Sidelined on Fossil Group (FOSL) as Bear Case Appears to Play Out

May 12, 2016 9:02 AM EDT

Oppenheimer reiterated a Perform rating on Fossil Group (NASDAQ: FOSL) after lowering estimates as Bear case appears to be playing out. Oppenheimer cut 2016 sales 1.5%-2.5% yielding $1.00 trim to EPS could translate to additional risk to 2H16.

Analyst Anna Andreeva commented, "Bear... More

UBS Cuts Price Target on Macy's (M) to $33 Following 1Q Report

May 12, 2016 8:10 AM EDT

UBS maintained a Neutral rating on Macy's (NYSE: M), and cut the price target to $33.00 (from $41.00), following the company's 1Q earnings report. Macy's reported better-than-expected GM at +10bp, compared to the Street at -80bp. Management said 2Q is unlikely to improve. EPS guidance was cut... More