|Bid||661.52 x 700000|
|Ask||700.00 x 6000|
|Day's Range||620.02 - 620.02|
|52 Week Range||334.56 - 620.02|
|PE Ratio (TTM)||123.02|
|Forward Dividend & Yield||27.49 (4.78%)|
|1y Target Est||N/A|
Macy’s, Nordstrom, and J.C. Penney just reported earnings, and the results show it’s still possible for some department stores to succeed.
Gap Inc (NYSE:GPS) reported earnings, and the markets hated what they saw. Coming into the earnings event, GPS stock was already lagging the like of Macy’s Inc (NYSE:M) and Target Corporation (NYSE:TGT), and this dip will cause it to fall further behind., but I believe that this selling will eventually abate and the stock will find footing.
Ms. Price’s appointment comes as Macy’s snapped out of three-year losing streak in same-store sales, posting two straight quarters of growth. Macy’s raised its 2018 outlook after first-quarter earnings beat analyst expectations, and now forecasts earnings for the year of between $3.75 and $3.95 a share, a 20-cent increase over its previous outlook. The change at Macy’s was set off by its current CFO Ms. Hoguet, who in April announced plans to retire after more than 20 years in the role.
It’s never been tougher to be a mall operator, but some of the Bay Area’s biggest are spending heavily to meet the demands of the 21st Century.
Macy’s will now allow customers to join its Star Rewards loyalty program without having to sign up for a store credit card. Target also began piloting a loyalty program in April in the Dallas-Fort Worth area that functions without ties to a card. Target Red includes one percent back on purchases that can be redeemed at a later visit, a chance to vote for local organizations to help direct Target’s community giving, half off first-year membership on same-day delivery with Shipt, and free next-day delivery on essentials with Restock.
Forward PE (price-to-earnings) multiples are one of the most common metrics that inform investment decisions. Forward PE is arrived at by dividing the stock price by analysts’ earnings estimates for the next four quarters. As of May 22, Kohl’s (KSS) was trading at a 12-month forward PE ratio of 11.2x.
On May 22, Kohl’s (KSS) stock fell over 7.4% after the company posted first-quarter results. The company reported net sales of $3.95 billion, which was marginally better than the analyst estimate. The company’s adjusted EPS (earnings per share) of $0.64 came in better than the Wall Street estimate of $0.50. Also, comps rose 3.6% in the first quarter driven by strength in both store and digital comps.
Kohl’s (KSS) adjusted earnings in the first quarter were $0.64, much better than analysts’ estimate of $0.50 and Q1 2017’s adjusted earnings of $0.39. On a reported basis, earnings came in at $0.45, up 15.4% on a year-over-year basis. Higher revenue and profits offset the impact of rising expenses as well as a loss on the extinguishment of debt.
Last Thursday Macy's beat quarterly sales and earnings expectations and many on Wall Street promptly lost their mind. Same story with Dillard's. Then Kohl’s followed up earlier this week with a similarly surprising upside report that led some to conclude that maybe, just maybe, the long-beleaguered department store sector might be seeing a resurgence or—dare we say it out loud?—the beginning of a renaissance. To be sure, both Macy's and Kohl's sales and profits were much improved over last year.
Macy's Inc. ( M) shares have soared in 2018, rising by nearly 30%, easily beating the S&P 500's return of only 2%. Options traders are betting shares of Macy's rise even higher, based on the options set to expire in July, by another 11%, taking the stock to nearly $37. Macy's fiscal first-quarter results came in much better than analysts had forecast, with earnings topping estimates by nearly 35%, at $0.48 per share, while revenue estimates beat results by only 2.8% at $5.541 billion.
Cincinnati-based department store chain Macy's Inc. has named a new chief financial officer, replacing retiring Karen Hoguet, the highest-ranking executive in the Queen City office.
Macy's Inc. named Paula Price as its new chief financial officer, effective July 9. Price, who is currently a senior lecturer in the accounting and management department at Harvard Business School, will ...
Macy’s, Inc. (NYSE:M) today announced that Paula A. Price will be appointed chief financial officer, effective July 9, 2018. Price will be responsible for leading the company’s finance, accounting, investor relations and internal audit functions. Price will succeed Karen Hoguet who, as previously announced, plans to retire at the end of the 2018 fiscal year.
Short-term direction, and therefore hour by hour momentum are determined by algorithms that scan the broad news cycle for key words. This forces the human decision maker to become far more strategic, and far less tactical in nature.
After Macy’s Inc (NYSE:M) stock rallied in the wake of its stronger-than-expected first quarter results, multiple analysts were bearish on the shares, saying that Macy’s stock probably can’t advance much further going forward. For example, Citi’s Paul Lejuez wrote that Macy’s first quarter results were “as good as it gets” and kept a “Sell” rating on Macy’s stock. As I reported in a previous column, in June 2017, The Wall Street Journal noted that 9% of Macy’s “customers account for 46% of its annual sales.” Macy’s results indicate that those customers have remained quite loyal and are visiting the retailer’s stores even more often.
Kohl's on Tuesday reported much-better-than-expected first-quarter earnings. J.C. Penney CEO Marvin Ellison will become Lowe's CEO. He previously was a top Home Depot executive.
While technology has radically altered retail, it hasn't wholly eradicated the human element--and that is one area where retailers can use tech to differentiate themselves, and hit back against Amazon.com (AMZN). While the majority of consumers are still willing to share their personal information, they want to feel like they are getting something of value in return, and companies that are willing to be more transparent and collaborative with consumers are the ones that are likely to do best. While Amazon has of course grown by leaps and bounds by embracing technology and understanding consumers' needs, it's hardly the only success story, argues Park.
Macy's is figuring out how to run its business with a lot less space — now that part of its flagship Union Square property is on the market.
Cincinnati-based retail giant Macy's Inc. is turning to something more at home in Silicon Valley than the home goods section of a department store in order to drive sales: virtual reality.
If you were looking for a clear signal about how department stores are faring in the current retail environment, you didn't get it from their latest batch of earnings results. Kohl's Corp. on Tuesday reported that comparable sales rose 3.6 percent in the first quarter compared with a year earlier, thanks to strength in categories such as activewear and home goods. Coupled with results from Macy's Inc. last week that blew the doors off analysts' expectations, you could convince yourself that this format isn't doomed after all.
Macy’s (M) announced its first-quarter results on May 16 before the market opened. The revenue increased 3.8% to $5.5 billion and surpassed the consensus estimates by 3.3%. Macy’s reported a higher EPS (earnings per share) of $0.48—compared to $0.24 in the first quarter of 2017. The EPS surpassed the consensus estimate of $0.37. Multiple brokerage firms also raised the target price for the stock. The stock rose 14.6% last week.
The stock price of leading off-price retailer TJX Companies (TJX) was up 1.8% as of 10:53 AM EST today. TJX Companies’ net sales of $8.69 billion beat analysts’ expectation of $8.47 billion. TJX Companies’ off-price model continues to win customers through attractive deals.