Today’s Research Reports on Stocks to Watch: Dillard's and Macy’s
NEW YORK, NY / ACCESSWIRE / February 28, 2018 / It was an exciting day for retail stocks as Macy's and Dillard's as they announced strong earnings that pushed stocks in the sector up on Wall Street. Both stocks were trading high in the green after announcing fourth quarter results.
RDI Initiates Coverage on:
Dillard's, Inc.
https://rdinvesting.com/news/?ticker=DDS
Macy's, Inc.
https://rdinvesting.com/news/?ticker=M
Dillard's shares closed up 16.89% on about 3.8 million shares traded on Tuesday. The stock hit a brand new high of $84.00 during intra-day trading after the company beat fourth quarter profit forecasts. Dillard's reported fourth quarter results that revealed a profit of $5.55 per share. After earnings were adjusted for pre-tax gains, they became $2.82 per share, easily beating the $1.82 per share that analysts had been expecting. Revenue was $2.11 billion for the quarter while analysts had expected $2.05 billion. Shares of Dillard's were already up 5% in pre-market trading yesterday after traders reacted to the report. Chief Executive William Dillard III commented, "The positive sales trends we noted at the end of the third quarter continued through the fourth. Our 3% comparable store sales increase combined with gross margin improvement and relative expense control led to a notable increase in pretax income for the quarter. We are working to keep this momentum into 2018." Since the start of the year, shares of the stock have gained 38%.
Access RDI's Dillard's, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=DDS
Macy's shares closed up 3.46% yesterday with about 49 million shares traded. The retailer posted its fourth quarter report that revealed adjusted earnings per share of $2.82. This was 11 cents higher than what analysts had been expecting. Revenue for the quarter was $8.67 billion however which was slightly behind Wall Street's expectation of $8.68 billion. Comparable store sales saw a growth of 1.3% compared to the growth of 0.1% that was expected. The results were enough to get traders excited, especially with the company's guidance forward. Macy's forecast full year earnings per share in the range of $3.55 and $3.75. Analysts were only expecting EPS of $3.04. The company is also expecting comps to see an increase of 1% this year. Revenue is expected to fall though by 0.5% to 2%. Macy's also said it would be investing heavily in areas that would mean growth for the company. The company stated that it "continues to opportunistically evaluate its real estate portfolio to identify opportunities where the redevelopment value of its real estate exceeds that of non-strategic operating locations."
Access RDI's Macy's, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=M
Our Actionable Research on Dillard's, Inc. (NYSE: DDS) and Macy's, Inc. (NYSE: M) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
