UBS Cuts Price Target on Macy's (M) to $33 Following 1Q Report
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Macy’s, Inc. Reports First Quarter Earnings Per Share of 37 Cents (40 Cents as Adjusted)
May 11, 2016 8:02 AM EDTCompany outlines plans to mitigate sustained headwinds, Lowers fiscal 2016 sales and earnings guidance
CINCINNATI--(BUSINESS WIRE)-- Macys, Inc. (NYSE: M) today reported first quarter 2016 earnings of 37 cents per diluted share (40 cents per share excluding non-cash settlement charges related to the companys retirement plans). This compares with 56 cents per diluted share in the first quarter of 2015.
We are seeing continued weakness in consumer spending levels for apparel and related categories. In particular, our sales trend relative to expectations meaningfully slowed beginning in mid-March, and first quarter... More
