Macy's (M) PT Lowered to $36 at BMO Capital on 1Q Miss; '5.2% SSS Decline... Margin Pressure in a Few Other Categories'

Macy's (M) PT Lowered to $31 at BofA/Merrill Lynch

May 12, 2017 9:45 AM EDT

BofA/Merrill Lynch lowered its price target on Macy's (NYSE: M) to $31.00 (from $38.00) while maintaining a Neutral rating.

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U.S. retail sales rise broadly; consumer prices rebound

May 12, 2017 8:44 AM EDT

By Lucia Mutikani

WASHINGTON (Reuters) - U.S. retail sales increased broadly in April while consumer prices rebounded, pointing to a pickup in economic growth and a gradual rise in inflation that could keep the Federal Reserve on track to raise interest rates next month.

The reports on Friday added to labor market data in suggesting the near stall in economic activity in the first quarter was an anomaly. But a moderation in year-on-year inflation led financial markets to dial down expectations of at least two more rate increases this year.

"The economy... More

Macy's (M) PT Lowered to $27 at Jefferies Following 1Q

May 12, 2017 7:44 AM EDT

Jefferies lowered its price target on Macy's (NYSE: M) to $27.00 (from $35.00) while maintaining a Hold rating. The company's 1Q EPS missed expectations, owing to weaker than expected comps and greater than expected GM pressure.

Management reaffirmed its FY18 EPS outlook, with comps accelerating... More

Wall Street falls, department stores take a drubbing

May 12, 2017 7:34 AM EDT

By Noel Randewich

(Reuters) - Wall Street slipped on Friday, ending the week lower as tepid economic data weighed on banks and worries deepened over Nordstrom (NYSE: JWN) and other department stores.

Risk-averse sentiment gripped Wall Street this week after President Donald Trump unexpectedly fired his FBI chief, the potential fallout from which could delay Trump's pro-growth goals to cut taxes and boost spending on infrastructure.

Soft retail sales and monthly inflation data on Friday raised concerns about slow economic growth and questions about whether the Federal Reserve could maintain its hawkish... More

Macy's (M) PT Lowered to $24 at Deutsche Bank

May 12, 2017 6:28 AM EDT

Deutsche Bank lowered its price target on Macy's (NYSE: M) to $24.00 (from $33.00) while maintaining a Hold rating.

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U.S. labor market tightening; inflation pressures building

May 11, 2017 8:33 AM EDT

By Lucia Mutikani

WASHINGTON (Reuters) - New applications for U.S. jobless benefits unexpectedly fell last week while producer prices rebounded strongly in April, pointing to a tightening labor market and rising inflation that could spur the Federal Reserve to raise interest rates in June.

Labor market strength was also underscored by a sharp drop in the number of Americans on unemployment rolls to a 28-1/2-year low in the final week of April.

"The best labor market in nearly 30 years should tell Fed officials that additional monetary stimulus is not required. We expect them... More

J.C. Penney (JCP) Trades Lower in Sympathy with Macy's (M)

May 11, 2017 8:24 AM EDT

Macy's (NYSE: M) peers were in focus Thursday as shares slipped 9.6% pre-market following the release of Q1 results that disappointed some investors. J.C. Penney (NYSE: JCP), which reports Q1 results tomorrow, traded lower by 4.5%.

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Macy's (M) Misses Q1 EPS by 10c, Owned Comps Decline 5.2%

May 11, 2017 8:01 AM EDT

Macy's (NYSE: M) reported Q1 EPS of $0.24, $0.10 worse than the analyst estimate of $0.34. Revenue for the quarter came in at $5.34 billion versus the consensus estimate of $5.47 billion.

Comparable sales on an owned basis were down 5.2 percent in the first quarter and down 4.6 percent on an owned plus... More

Wall Street slides as investors fret about retail

May 11, 2017 7:30 AM EDT

By Noel Randewich

(Reuters) - U.S. stocks fell on Thursday after worse-than-expected sales drops at Macy's and Kohl's sparked a selloff in shares of department stores and stirred fears that consumers are not spending enough to drive strong economic growth.

Macy's (NYSE: M) dismal quarterly performance sent its shares tumbling 17 percent, taking a toll on the consumer discretionary sector , which fell 0.59 percent.

Kohl's (NYSE: KSS) dropped 7.86 percent after it reported a drop in quarterly sales, while shares of Nordstrom (NYSE:... More