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News Breaks
August 12, 2014
13:43 EDTM, JCP, 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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September 30, 2014
12:08 EDTJCPStocks with call strike movement; JCP EWZ
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11:44 EDTJCPOptions with increasing implied volatility
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September 29, 2014
11:40 EDTJCPOptions with increasing implied volatility
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08:01 EDTMMacy's to hire 86,000 seasonal associates in 2014
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September 26, 2014
10:58 EDTMFinish Line left out of sports footwear rally after earnings miss
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09:12 EDTMFinish Line cites assortment 'blip' for Q2 performance
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07:12 EDTMFinish Line says Q2 results fell short due to basketball offering 'softness'
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September 25, 2014
11:22 EDTMSkechers rebounds after refuting Barrington research report
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September 22, 2014
11:38 EDTJCPStocks with call strike movement; JCP TWTR
J.C. Penney (JCP) February 12 call option implied volatility increased 5% to 45, Twitter (TWTR) January 62.5 call option implied volatility increased 4% to 46 according to IVolatility.
September 18, 2014
12:07 EDTJCPStocks with call strike movement; JCP FB
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