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News Breaks
August 12, 2014
13:43 EDTJCP, M, MSOEarnings Preview: Analyst sees Macy's lowering EPS, SSS guidance for FY14
Macy's (M) is scheduled to report second quarter earnings before the market open on Wednesday, August 13, with a conference call scheduled for 10:30 am ET. Macy's is a retailer that sell a range of merchandise, including apparel and accessories, cosmetics, home furnishings and other consumer goods. EXPECTATIONS: Analysts are looking for earnings per share of 86c on revenue of $6.3B, according to First Call. The consensus range for EPS is 79c-89c on revenue of $6.2B-$6.38B. LAST QUARTER: Macy's reported first quarter EPS of 60c, against estimates for 59c, on revenue of $6.28B, against estimates for $6.46B. Same-store sales in the quarter were down 1.6% for the quarter. Macy's backed its fiscal year 2014 EPS guidance of $4.40-$4.50. The consensus for FY14 EPS is $4.47. The company, which announced a 25% increase to its dividend and a $1.5B increase to its share repurchase authorization, forecast FY14 SSS growth of 2.5%-3%. NEWS: On its last earnings conference call, Macy's forecast margins for the full year "flattish" to down slightly, and said that underlying consumer demand was strong enough to enable the company to achieve annual guidance. During the quarter, J.C. Penney (JCP) appealed a New York state court decision that ruled the company interfered with a contract between Macy's and Martha Stewart (MSO) by selling the celebrity's home products. STREET RESEARCH: Morgan Stanley added Macy's to the Best Ideas List citing consistent execution, leading free-cash-flow yield, strong management and strategies, and superior omni-channel capabilities. Deutsche Bank believes Macy's FY14 same-store-sales guidance of up 2.5%-3% is likely to be revised lower and its earnings outlook of $4.40-$4.50 could be cut by 5c-10c given the shortfall in Q1 and the promotional environment. PRICE ACTION: Over the last three months, Macy's shares are up almost 5%. The stock is trading down fractionally to $60.09 ahead of tomorrow's report.
News For M;JCP;MSO From The Last 14 Days
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March 27, 2015
13:31 EDTMKellogg CEO John Bryant elected to Macy's board of directors
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09:01 EDTMFinish Line sees Macy's business generating $240M-$250M in FY sales
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08:56 EDTMFinish Line says Macy's partnership on the way to exceeding long-term vision
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March 26, 2015
06:22 EDTMMacy's says mobile shopping, electronics dampening retail performance, MW says
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March 24, 2015
08:26 EDTMMacy's says will keep investing in e-commerce, online security
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08:24 EDTMMacy's says store closings 'not really about Internet'
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07:27 EDTMTelsey Advisory to hold a conference
2015 Consumer Conference is being held in New York on March 24-25.
March 20, 2015
09:01 EDTJCPJ.C. Penney says general counsel Janet Dhillon to leave company
J.C. Penney said in a filing that effective March 20, Janet Dhillon, Executive Vice President, General Counsel and Secretary, is leaving J. C. Penney Company.
March 19, 2015
07:04 EDTMAmerican Express confirms plans to launch Plenti loyalty program
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March 18, 2015
13:30 EDTJCPJ.C. Penney trades lower after news of executive departures
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06:16 EDTMAmerican Express to launch Plenti loyalty program this spring, WSJ reports
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March 17, 2015
15:41 EDTJCPJ.C. Penney General Counsel Janet Dhillon leaving, Bloomberg says
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06:57 EDTJCPJ.C. Penney CMO leaves company, effective immediately, AdAge reports
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