|Bid||14.85 x 21500|
|Ask||14.93 x 800|
|Day's Range||14.84 - 15.48|
|52 Week Range||14.84 - 38.35|
|Beta (3Y Monthly)||0.52|
|PE Ratio (TTM)||4.54|
|Earnings Date||Nov 21, 2019|
|Forward Dividend & Yield||1.51 (9.70%)|
|1y Target Est||18.53|
The board of directors of Macy's, Inc. today declared a regular quarterly dividend of 37.75 cents per share on Macy's, Inc.’s common stock, payable October 1, 2019, to shareholders of record at the close of business on September 13, 2019.
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.
These department store stocks may have been beaten down enough to once again provide value to your portfolio with significant dividend yields hedging some of the risks of buying into a potentially dying sector.
The rating on the interest only (IO) class Cl. X-1 was affirmed based on the credit quality of their referenced classes. For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating.
The San Francisco tech retailer's latest funding round will accelerate new retail partnerships, infrastructure expansion, and marketplace growth.
The Target (NYSE:TGT) second-quarter earnings report was a real eye-opener.Net earnings of $939 million, $1.83 per share, on revenue of $18.4 billion were just part of it.Source: jejim / Shutterstock.com Same store sales rose 3.4%, and traffic to the stores was up 2.4%. Half of that came from Target's same-day fulfillment services, and operating profit was up nearly 17% from a year earlier.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Marijuana Stocks That Could See 100% Gains, If Not More The result was a fundamental reassessment of Target by analysts and investors. Shares rose a startling 20% and kept going higher as trade opened Aug. 22. A stock that had never traded over $90 per share was suddenly trading at $105. The Target stock price shot right up.But has Target really changed, or have analysts just caught up with the decade's most important retail trend? Americans Don't Shop in the Traditional SenseAnalysts looking at the Target numbers waxed lyrically over its "omni-channel" efforts, the idea that Target lets people buy online and either pick up their orders or have them delivered.But there's a more fundamental change at work. Americans no longer shop. Americans buy. We make lists. We expect low prices. We consider getting what we need a chore, and want it done quickly.When we go out, we also want to visit one store for all our needs. We don't go to a clothing store, a food store, then a drug store or stationery.This trend is behind the rise of Walmart (NYSE:WMT), Amazon (NASDAQ:AMZN) and Costco Wholesale (NASDAQ:COST). The question was where Target could fit into this new world, or whether it might wither away as department stores like Macy's (NYSE:M).The second quarter proved to analysts that Target has found its niche, and that it's a sustainable one.Target will deliver clean stores close to where people live, increasingly in densely-packed cities. CEO Brian Cornell says his turnaround for the company is still in its early stages.While many analysts think Cornell's Target is Walmart or Amazon, it's also Costco. Cornell recognized that convenience isn't just about e-tailing. It's also about being nearby, selling basics people need in quantities small enough to bring back to modern apartments.While Walmart has mostly abandoned small-format stores, Target has gone all-in, with 30 new sites each year placed close to college campuses and other urban employment centers. Store Brands Boost Earnings in TGT StockCornell's strategy for maintaining margins is to build store brands so that what he makes competes directly with what he buys.The company's new grocery brand is Good and Gather, which is being sold as a wellness brand in its grocery aisles. Target's grocery sections are usually smaller than those of rivals, with fewer fresh products.Good and Gather joins the successful Cat & Jack kids' line and dozens of other store brands including Smith & Hawken, bought in 2010.Store brands offer fatter margins than name-brand merchandise. Stores which, like Costco, deliver quality in their store brands, get a double earnings boost. Bottom Line on Target StockAnalysts were reluctant to give Target stock the kind of price multiple given Walmart because they didn't think it fit into Walmart's world.Walmart sells at 25 P/E, and even with its fat Aug. 21 gains Target stock is still selling for under 18 times earnings. Its dividend yield is 2.56%, against less than 2% for Walmart.Walmart's market cap is 62% of its 2018 revenue, while Target's recent gains mean it's selling for 72% of last year's sales. Target remains just 14% of Walmart's size, but analysts now think it can play in Walmart's league. That's a huge change in sentiment, and it means Target stock may keep rising.Dana Blankenhorn is a financial and technology journalist. He is the author of the environmental story, Bridget O'Flynn and the Bear, available at the Amazon Kindle store. Write him at firstname.lastname@example.org or follow him on Twitter at @danablankenhorn. As of this writing he owned shares in AMZN. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Marijuana Stocks That Could See 100% Gains, If Not More * 11 Stocks Under $10 to Buy Now * 6 China Stocks to Buy on the Dip The post Target Stock Is Back in the Big Leagues appeared first on InvestorPlace.
Online resale clothing store thredUP has received $175 million in funding which will be used in part to expand its partnerships with retailers, bringing thredUP’s total capital raised to more than $300 million, Reuters reported. Last week, Cincinnati-based Macy's (NYSE: M) announced it was piloting a partnership with San Francisco-based Thredup in 40 of its stores across the country. "We know many consumers are passionate about sustainable fashion and shopping resale," Macy's CEO Jeff Gennette said during a second-quarter earnings call Aug. 14.
(Bloomberg Opinion) -- Who knew the unsexy work of disciplined inventory and expense management could get Wall Street this excited?Or, at least that’s what I think is driving a Thursday morning surge in shares of Nordstrom Inc., which reported second-quarter earnings late Wednesday. The retailer beat analysts’ earnings per share estimates, an outcome it chalked up to deft expense control. But, to my mind, practically everything else about this report is worrisome for Nordstrom, and indicates that something has seriously gone off track recently for this company.Nordstrom said net sales fell 5.1% from a year earlier in the quarter. The company no longer reports comparable sales, a measure that typically captures sales at stores open more than a year and online sales, and is considered a key benchmark of retailer health. It said when it announced that decision that net sales in fiscal 2019 would effectively approximate comparable sales. So, if we assume that to be true, Nordstrom effectively just had its worst results in at least decade on this metric. The first quarter was the second-worst.It’s not like one of its major lines of business provided reason to dismiss troubles at the other. Net sales plunged 6.5% in the full-price division, an especially bad result when you consider Nordstrom held a major promotional event in the quarter, its Anniversary Sale, which is traditionally an important driver of annual revenue. TJX Cos. managed to deliver positive comparable sales in the second quarter in its division that includes off-price wunderkinds Marshalls and T.J. Maxx, and yet Nordstrom Rack, a direct competitor, saw net sales fall 1.9% from a year earlier.Adding to the gloom, Nordstrom’s e-commerce sales rose just 4% in the second quarter. I realize that the company has a relatively mature online business for a legacy brick-and-mortar retailer, drawing 30% of its overall sales from e-commerce. However, this is a significant downshift from the rate of growth the company had been recording in this channel. The bleak news doesn’t stop there: Nordstrom reduced the top end of its annual earnings guidance. Also, its previous outlook for net sales was a range of flat to a 2% decline; it is now just for an approximately 2% decrease. Achieving even this dimmer outlook will require a pretty speedy change in momentum from the first half of the year, and I’m not sure executives have adequately explained how they can turn on a dime and pull that off. All of this is what leaves me perplexed as to why this report would do anything but make investors squeamish about Nordstrom’s prospects. I’ve long thought of Nordstrom as something of a unique retailing species. While it is technically a department-store operator, I’ve resisted thinking of it as such, because it has largely avoided all the typical problems we associate with that troubled format. But earnings results like these are making me reconsider whether it is really different enough to withstand the relentless pressure facing the category.These numbers make it harder to ignore stumbles by this company that might once easily have been overlooked. In the first quarter, Nordstrom erred with a change to its loyalty program that it believes kept shoppers away from its stores. In the second quarter, sales at its Anniversary Sale were soft, which co-President Erik Nordstrom told investors was in part because “We simply ran-out of our top items.” These missteps don’t exactly show the company to be in top form. I don’t think Nordstrom’s situation is hopeless. With less than 140 full-price stores, I’ve noted many times that Nordstrom is fortunate to not have a bloated store portfolio – unlike Macy’s Inc., J.C. Penney Co. and Kohl’s Corp. Its locations don’t tend to be in the dumpy malls that are turning into shopping ghost towns, and I see promise in its tiny-format Nordstrom Local concept. But its results so far this year suggest these factors might not be sufficient protection from the curse that is being a department store in 2019.To contact the author of this story: Sarah Halzack at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Sarah Halzack is a Bloomberg Opinion columnist covering the consumer and retail industries. She was previously a national retail reporter for the Washington Post.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Amazon and its ecommerce wave have swallowed up 10s of thousands of brick-and-mortar stores in the retail apocalypse. Retailers everywhere are scrambling to find their niche with the shifting consumer.