and the same store sales figures to be released this coming Thursday Nov 2nd.
If you were thinking of selling FD shares do it now guys!
Otherwise, be prepared to deal with lower share prices come Thursday morning and Friday.
PLEASE NOTE : I do not have access to FD sales figures, but only to comments I heard from folks I know within FD and within the industry. October is not going to set off many smiles.
"Penney said it made $287 million, or $1.26 a share, from $234 million, or 94 cents a share, in the year-ago period."
I guess Penneys does not base success on plan but on beating previous year sales.
"Total net sales climbed 6.7% to $4.78 billion from $4.48 billion. Same-store sales, the industry's benchmark of growth measuring receipts rung up at stores open longer than a year, rose 5.2%. Internet sales jumped 27%. "
Seems that atleast one retailer is making money in the stores and on the net.
We were told we would not have as much merchandise, so far we are stocked way over what we used to have. We were told no more coupons, there has been one every week. We were told no more catalogs in the newspapers, there has been one every week. We were told fewer sales, I don't even have to say how that is going! Plus with all this, our sales are down. There are NO customers in the store.
70% of our "circle & sign" e mails coming in have been negative. Yep this merger has been great.
" Hey fanoffed
WHy doent FD report the May doors? Is this "enronic" creative accounting? Where are the facts? What is the SSS for all of FD, not just what they want to tell investors. I want facts. "
Maycogal, the former May doors are considered new stores under their respective new divisions. They were not officially part of Federated completely until Sep 06. SSS or same store sales would be inaccurate since they were still May stores waiting to be merged. Although they were owned by Federated, they were still considered Mayco stores.
Unlike the former May Co, Federated and Macy*s both have had experience with bankruptcy and flushing out the common shareholders...Look for this strategic move again.
Lundgren will parachute, the Board will announce a "return to our retail roots" amidst Ch 11, and hundreds of "under-performing" stores will close...
Ironically, Lord & Taylor, the only nameplate to survive the FD Kristallnacht, appears to be thriving under new ownership...Time will tell!
Actually, FDs results are pretty meager, don't iclude the May losses vs. LY and don't account for $11 Billion spent to shutter the competition next door or the cost of the big flop "National Roll Out".
The market's not stupid enough to buy into this whole charade, hence the share price decline...
Deal with it.
Is sounds like his sources were right about the May doors, ludgren did say that May doors continue to "lag". With all the promtions and sales going on at Macy's it would be expected that FD legacy stores should be having high comps.
I hope this doesn't sound to stupid but I really can't seem to understand what FD are considering same store sales. If dual locations ended with the relocation of a FD store to a former May location is that included in same store sales or is it considered a new store by FD?
I also do not understand why they are not reporting former May stores as same stores as they were operated by FD at the same time last year.
ACTIONS SPEAK LOUDER THAN WORDS.
FDS investors are laughing their way to the bank with all the gloom and doomers speaking out here, but the results (actions) are consitently shutting people up.
please update your comments when the results are released.
I hope you are wrong, because I hear quite the opposite.
Look forward to hearing from you!!!
Yes , indeed true that Actions speak louder than words.
FD stock has gapped down in price in 2 out of the last 3 trading days. Insiders know the story to come?
You look forward to my post on Thursday? I assure you that I will be one of the first to post on here. Macy's is having a difficult season in hardlines with drops in comps that are not being offset on the main floor.