|Bid||0.00 x 10700|
|Ask||0.00 x 10500|
|Day's Range||13.32 - 14.25|
|52 Week Range||13.32 - 33.42|
|Beta (3Y Monthly)||-0.04|
|PE Ratio (TTM)||4.05|
|Forward Dividend & Yield||1.33 (9.58%)|
|1y Target Est||N/A|
Earnings for Q2 saw a slowdown in sales for several big names. Yahoo Finance's Adam Shapiro, Rick Newman, Sibile Marcellus and Emily McCormick discuss.
Earnings season is winding down, but retailers are just starting to report their quarterly results. Shares of major retailers ended lower on Wednesday after Macy's reported disappointing results for the second-quarter. Jharonne Martis, Refinitiv's Director of Consumer Research, joined The Final Round to discuss what the company's results means for retail in general, as well as trends in the retail sector.
After a disappointing second-quarter earnings report, shares of Macy's plunged, and took shares of Kohl's, Nordstrom, and J.C. Penney down with them. Yahoo Finance's Myles Udland, Dan Roberts, and Brian Cheung discuss what the implications of the U.S.-China trade war could have on the retail sector in the coming months.
Sluggish sales has been the theme for retailers reporting second-quarter results, but we think the market isn't giving enough credit for future improvement. Nordstrom, Macy's, and Kohl's all trade well below what we think they're worth. Nordstrom JWN joined other North American department stores in reporting weak sales for the second quarter.
Macy's and J.C. Penney are struggling right now, but both management teams seem confident that they can turn things around soon.
What shape is the consumer in? Were Macy's Inc (NYSE: M) poor earnings report indicative of the retail environment or should investors look instead at Walmart Inc (NYSE: WMT)? Walmart is a "great barometer" to gauge the state of the consumer, Oppenheimer analyst Brian Nagel said Friday on CNBC's "Squawk Box" segment.
Macy's M share price dropped after the company reported second-quarter results and reduced its outlook for the rest of the year. As we forecast Macy's 2019 free cash flow at more than $1 billion, we think its annual dividend cost of less than $500 million is manageable. Macy's 0.2% growth in comparable sales on an owned basis in the second quarter came in below our forecast of 0.5%.
Macy's reported second-quarter results, which expanded its total core retail operations losses to $70 million for the first half of 2019, Greenberger wrote in a note. During Macy's conference call management detailed new initiatives, including a new ThredUp pilot (fashion resale marketplace) and a subscription service at Bloomingdale's that can eventually be expanded to the core Macy's store.
The magic seems to have abandoned Macy’s, as the stock is down for a second day following the department store’s disappointing second-quarter results, and analysts are skeptical.
Macy's dire earnings report paints a negative picture. But don't confuse Macy's problems with the rest of retail. Some S&P; 500 retailers are growing revenue share.
The company attributed part of its poor performance to heightened inventory and few tourists spending money at its flagship New York City store, Cramer said. Looking at Macy's performance, one may not be faulted for assuming it's foreshadowing a retail meltdown and an economic slowdown, Cramer said. "Rather than buying clothes directly from Macy's, the consumer waits for them to offload their excess inventory to TJX or Burlington Stores at a huge discount and then picks up the same stuff for a fraction of the price," Cramer said.
Macy’s Inc.’s disappointing second-quarter earnings report suggests that retail is in worse shape than we may have thought, said UBS analysts, and it could decline further.
Macy's slashed its profit guidance after Q2 earnings badly missed forecasts amid deep discounting. Shares plummeted Wednesday.
Merchandise planning missteps and a sudden drop in international tourist traffic destroyed the No. 1 department store operator's profitability last quarter.