|Bid||32.70 x 800|
|Ask||33.00 x 1000|
|Day's Range||32.56 - 33.76|
|52 Week Range||20.31 - 41.99|
|Beta (3Y Monthly)||0.14|
|PE Ratio (TTM)||6.05|
|Earnings Date||Aug 8, 2018 - Aug 13, 2018|
|Forward Dividend & Yield||1.51 (4.53%)|
|1y Target Est||36.38|
Macy's is full steam ahead with its successful off-price concept Backstage.
Even though Black Friday isn’t for another couple of days, the deals are already out at many stores, making it a make or break season. Yahoo Finance’s Alexis Christoforous and OC&C strategy consultants Coye Nokes.
The ratings on six principal and interest (P&I) classes were affirmed because the transaction's key metrics, including Moody's loan-to-value (LTV) ratio, Moody's stressed debt service coverage ratio (DSCR) and the transaction's Herfindahl Index (Herf), are within acceptable ranges. The rating on the interest-only (IO) class was affirmed based on the credit quality of the referenced classes. Moody's rating action reflects a base expected loss of 5.6% of the current pooled balance.
Welcome to the latest episode of the Full-Court Finance podcast from Zacks Investment Research where Associate Stock Strategist Ben Rains talks about some of the best sports-based retail stocks to buy before Black Friday amid the busy holiday shopping season.
Nordstrom (JWN) stock fell 13.7% on November 16 in reaction to the company’s earnings results for the period that ended on November 3. Nordstrom’s fiscal 2018 third-quarter revenue exceeded analysts’ expectations, while its adjusted EPS beat estimates by $0.01. Nordstrom also disclosed a charge resulting from refunds that the company has had to make to certain customers who were mistakenly charged a higher interest rate on store credit cards.
JCPenney’s (JCP) gross margin declined 210 basis points on a year-over-year basis in the third quarter of fiscal 2018 to 31.9%. JCPenney’s operating margin fell to -3.8% in the third quarter of fiscal 2018 compared to -2.8% in the third quarter of fiscal 2017. Macy’s (M) 2018 third-quarter gross margin remained flat on a year-over-year basis at 40.3%, while operating margin grew 50 basis points to 2.7%.
This has been a tough year for the stock market, massively tougher than last. Right now the Dow Jones (DIA) is clinging to a 2% gain, with the S&P 500 (SPY) about the same, and the Nasdaq (QQQ) still up 3%. But this has been a tough year that many thought would be easy. We started with a huge tax cut (mainly to corporations), but then quickly focused on tariffs, elections, and a potential slowdown next year. Volatility is up, profits may be peaking (really just growth is peaking), and we are limping into Macy’s Thanksgiving Day Parade. (At least they are having a good year with (M) up 30%). So why am I thankful? Let me count the ways.
JCPenney (JCP) continued to disappoint investors with a steep decline in its revenue in the third quarter of 2018, which ended on November 3. JCPenney’s revenue, which includes retail net sales and credit income, declined 5.3% to $2.73 billion, falling behind analysts’ expectation of $2.81 billion. JCPenney’s revenue has declined in each of the first three quarters of fiscal 2018.
Overall earnings growth of S&P 500 companies in third quarter has already surpassed earnings growth in the second quarter, which was the highest in seven years.
Macy’s and Walmart, in particular, had solid third-quarter results. Walmart delivered 3.4 percent U.S. comparable sales growth, and while that was slower than the pace it achieved in the prior quarter, it was still a stronger result than has been typical for the company in recent years.
Macy’s talked up the importance of its bricks-and-mortar locations even as it plans to shrink stores and grow its e-commerce business.
shares tumbled Friday by nearly 14% to close at $50.93, after the retailer posted weaker-than-expected same store sales for its fiscal third quarter and said it would need to repay more than $70 million to customers overcharged on store credit cards. Nordstrom said sales in store open more than one year rose 2.3% in the three months ending on October 28, but noted the "full-price" sales were only up 0.4% from the same three-month period last year. Nordstrom also said it sees Christmas quarter sales rising around 2% from last year, and net full-year revenues of around $15.6 billion after hitting $3.748 billion in the October end quarter.