New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 9, 2014
12:25 EDTANF, ANF, ANF, BBBY, BBBY, BBBY, CRI, CRI, CRI, COST, COST, COST, DKS, DKS, DKS, DG, DG, DG, FL, FL, FL, M, M, M, TIF, TIF, TIFBofA/Merrill's retail analysts hold an analyst/industry conference call
Retailing Analysts provide a retail update for March which includes sales, earnings stocks and industry trends on an Analyst/Industry conference call to be held on April 10 at 1 pm.
News For ANF;BBBY;CRI;COST;DKS;DG;FL;M;TIF From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 >>
November 11, 2015
11:28 EDTMStocks with call strike movement; M YHOO
Yahoo (YHOO) April 40 call option implied volatility increased 4% to 38, Macy's (M) February 47.5 call option implied volatility decreased 13% to 39 according to iVolatility.
11:11 EDTMMacy's tanks after 'disappointing' Q3 report, drags down retail peers
Shares of Macy's (M) and its department store peers are plunging this morning after the retailer cut its outlook for fiscal year 2015 after reporting third quarter revenue that missed analysts' estimates. Macy's also said it will not be pursuing the formation of a real estate investment trust. TEPID SPENDING AT MACY'S: This morning, Macy's reported Q3 earnings per share of 56c excluding items, beating analysts' consensus estimates of 54c, on revenue of $5.87B, missing estimates of $6.09B. Including asset impairment charges primarily related to the previously-announced plans to close 35 to 40 stores in early 2016, EPS for the quarter was 36c. Comparable sales on an owned plus licensed basis were down by 3.6% in the quarter, with SSS down 3.9% on an owned basis. Terry Lundgren, Macy's chairman and chief executive officer, said the company is "disappointed" that the pace of sales did not improve as expected in Q3, noting that spending by U.S. customers was "tepid." Looking ahead, the company forecast fourth quarter EPS of $2.54-$2.64, well below analysts' consensus estimates of $2.90, and forecast SSS on an owned plus licensed basis down 2%-3%. Macy's also cut its FY15 EPS view to $4.20-$4.30 excluding charges from $4.70-$4.80, also well below estimates calling for $4.65, with total sales down 2.7%-3.1%, compared to previous guidance of down about 1%. Macy's now sees FY15 SSS on an owned plus licensed basis down by 1.8% to 2.2%, compared with previous guidance of approximately flat. WHAT'S NOTABLE: Macy's said in its earnings release that it has decided not to pursue the formation of a REIT at this time, but will consider redeveloping some of its flagship properties through joint ventures or other deals. Macy's said it has engaged Tishman Speyer to advise the company's senior management in identifying and advancing potential store redevelopment projects in the U.S. Activist investor Starboard Value had urged Macy's earlier this year to consider spinning off its real estate assets. Macy's said on its earnings conference call that it studied the formation of a REIT, but ultimately said there was "not enough value" to be created from the establishment of one. Macy's also announced this morning that it will reduce capital spending to less than $1B in 2016 from the $1.2B it expects to spend in 2015. Further, Macy's said it will roll out 50 free-standing Macy's Backstage stores in off-mall locations and, in spring 2016, will add Backstage stores within up to 10 existing Macy's stores. Macy's also plans to open about 40 more Bluemercury self-standing beauty specialty stores. The company also said it had signed an agreement with Luxottica Group (LUX) to open licensed LensCrafters shops in as many as 500 Macy's stores over the next three years. PENNEY: J.C. Penney reported stronger than expected SSS growth of 6.4% for Q3. Chief Executive Officer Marvin Ellison said that the company's Q3 EPS and gross margin performance "exceeded our expectations." J.C. Penney is set to report quarterly results on Friday morning. Separately, the retailer also announced the settlement of a class action lawsuit alleging false advertising. The company will make $50M in cash available for claims under the terms of the settlement. PRICE ACTION: Macy's is sliding 13% to $40.82 and J.C. Penney is down about 3% to $8.43. OTHERS TO WATCH: Kohl's (KSS), which will report quarterly earnings tomorrow morning, is down 6.5% and Nordstrom (JWN) is down 4.4%.
09:45 EDTMMacy's says will be 'selective' about M&A opportunities
Subscribe for More Information
09:45 EDTMMacy's says views on M&A have not changed
Subscribe for More Information
09:38 EDTMActive equity options trading on open
Subscribe for More Information
09:32 EDTMMacy's sees Q4 gross margin 'well below last year'
Subscribe for More Information
09:29 EDTMMacy's tumbles after results disappoint
Subscribe for More Information
09:28 EDTMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: AlarmCom (ALRM), up 13.3%... Full House Resorts (FLL), up 7.4%. ALSO HIGHER: J.C. Penney (JCP), up 3.2% after reporting third quarter Same-Store Sales up 6.4%... Amira Nature Foods (ANFI), up 32.2% after an independent review found that allegations against the company are unsubstantiated... Intrexon (XON), up 1.9% after being upgraded to Neutral from Underperform at Mizuho. DOWN AFTER EARNINGS: Boot Barn (BOOT), down 16.6%... Westport Innovations (WPRT), down 12.8%... Macy's (M), down 9.8%. ALSO LOWER: Horizon Pharma (HZNP), down 14.3% following a lawsuit and allegations by Express Scripts (ESRX)... AmTrust Financial (AFSI), down 5.5% after 5M share Secondary priced at $64.00... Premier (PINC), down 1.6% after 4.03M share Spot Secondary priced at $34.50.
09:22 EDTMMacy's CFO says 'anxious' to see how other retailers fared in the quarter
CFO Karen Hoguet says sales "unexpectedly weakened" in Q3. Estimates impact of lower international tourist sales to be approx. 1.5 points in Q3. Says that in spite of disappointing overall sales, says there were some "bright spots," including digital growth, Active, furniture and mattresses business, as well as kids and younger millennials businesses. Says will need to liquidate elevated inventory in Q4.
09:14 EDTMMacy's says exploring JVs, other deals to redevelop flagship real estate assets
Says flagship real estate assets include Union Square, Herald Square.
09:13 EDTMMacy's says 'not enough value' to be created from establishment of REIT
Subscribe for More Information
09:08 EDTMMacy's CEO says retail industry going through 'tough period'
Subscribe for More Information
08:10 EDTMMacy's says to reduce CapEx to less than $1B in 2016
Macy's, Inc. is continuing to execute a number of key strategies and actions going forward to adapt its business model as an omnichannel retailer committed to outstanding stores as a competitive differentiator. These adjustments are rooted in Macy's MOM strategies and Bloomingdale's focus on omnichannel opportunities, contemporary style and personalized service -- which have proven to be a powerful driver of success. The company is: Accelerating investments in Macy's, Bloomingdale's and Bluemercury's digital and mobile capabilities to mirror the shift to increased online shopping, where the company continues to see double-digit, year-over-year sales increases. Concentrating its resources in top stores in the best locations so each store is a more compelling magnet for customer activity and uses its selling space more productively. Best stores will see intensified merchandise assortments in key destination departments such as jewelry and watches, strategically selected licensed departments, strengthened visual presentation, enhanced staffing and more local marketing. Meanwhile, in early 2016, the company will be closing 35 to 40 of its current portfolio of about 800 Macy's and Bloomingdale's stores, as previously announced, and expects it will continue to reduce the number of stores over time. Reducing expense and tightening capital spending to operate more efficiently and fund the highest-potential growth initiatives. Macy's, Inc.'s target is to reduce annual SG&A by $500 million from previously planned levels by 2018, with incremental progress in 2016 and 2017 toward that goal. These structural expense reductions will result in charges to be taken in each of the three years. Specific plans to achieve these savings are being formulated. Macy's, Inc. will reduce capital spending to less than $1 billion in 2016 from the $1.2 billion expected in 2015. The company also is quickly building-out new directions for the longer-term future: Expand Macy's Backstage as an exciting new dimension in retailing across America. Over the next two years, the company will roll out about 50 free-standing Macy's Backstage stores in off-mall locations, building on the pilot launch this fall. In addition, in spring 2016 the company will pilot Backstage stores within up to 10 existing Macy's store locations, creating a new hybrid store. Open approximately 40 additional Bluemercury self-standing beauty specialty stores, bringing the total store base to approximately 115 by the end of 2017. Appropriately expand Macy's internationally based on the learnings we expect from the Macy's China Limited pilot with Alibaba's Tmall Global beginning in the fourth quarter.
08:09 EDTMMacy's says has decided not to pursue formation of a REIT at this time
Subscribe for More Information
08:06 EDTMMacy's cuts FY15 EPS view to $4.20-$4.30 ex-charges from $4.70-$4.80
Consensus is $4.65. Guidance is for full-year 2015 comparable sales on an owned plus licensed basis to decrease by 1.8 percent to 2.2 percent, compared with previous guidance of approximately flat. The company expects 2015 total sales to be down by 2.7 percent to 3.1 percent, compared to previous guidance for total sales to be down approximately 1 percent.
08:04 EDTMMacy's sees Q4 EPS $2.54-$2.64, consensus $2.90
Sees fourth quarter comparable sales on an owned plus licensed basis to decline by 2.0 percent to 3.0 percent. Full-year and fourth quarter 2015 comparable sales on an owned basis will be approximately 50 basis points lower than on an owned plus licensed basis.
08:02 EDTMMacy's reports Q3 comaprable sales on owned plus licensed basis down 3.6%
Subscribe for More Information
08:02 EDTMMacy's CEO says 'disappointed' sales did not improve in Q3
Subscribe for More Information
08:01 EDTMMacy's, Luxottica agree to open LensCrafters in as many as 500 Macy's stores
Subscribe for More Information
08:01 EDTMMacy's reports Q3 EPS 56c ex-items, consensus 54c
Reports Q3 revenue $5.87B, consensus $6.09B. Macy's reported earnings per share of 36 cents in the third quarter of 2015, ended Oct. 31, 2015. Excluding asset impairment charges of $111 million, or 20 cents per share, primarily related to the previously-announced plans to close 35 to 40 stores in early 2016, third quarter earnings per share were 56 cents per share. This compares with 61 cents per diluted share in the third quarter of 2014.
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use