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News Breaks | | | | February 25, 2013 | | 12:29 EDT |  | M | Earnings Preview: Macy's sees Q4 EPS $1.94-$1.99 ex-items
Macy's (M) is scheduled to report Q4 before the market open on Tuesday, February 26, 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 EPS of $1.99 on revenue of $9.3B, according to First Call. The consensus range for EPS is $1.96-$2.05 on revenue of $9.23B-$9.4B... LAST QUARTER: Macy's reported Q3 EPS of 36c against estimates for 30c on revenue of $6.08B against estimates for $6.08B. During the quarter, Macy's cut its Q4 EPS view to $1.91-$1.96 from $1.94-$1.99 and forecast same-store sales up 3%-3.5% for the quarter. The retailer later raised its Q4 EPS view to $1.94-$1.99 ex-items, in-line with guidance given on November 7. Macy's also increased its share repurchase authorization by $1.5B, bringing the remaining authorization outstanding to $1.861B. The company said it would close six stores in early spring, and would book an estimated $2M-$4M of costs in Q4, but confirmed plans for nine new stores. Macy's also continued its legal battle with J.C. Penney (JCP) over their partnerships with Martha Stewart Living Omnimedia (MSO)... STREET RESEARCH: Citigroup recently upgraded Macy's to Buy from Neutral on expectations the company is positioned for accelerating comp growth in 2013. Macquarie downgraded Macy's to Neutral from Outperform based on relative valuation, normalizing EPS growth, and expectations for slowing comps... PRICE ACTION: Over the last three months, Macy's shares are down over 6.5%. Year-to-date, shares are relatively flat. | |
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News For M From The Last 14 Days Check below for free stories on M the last two weeks. |
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| June 10, 2013 | | 13:01 EDT |  | M | Macy's to host investor meeting
 Subscribe for More Information | | | June 6, 2013 | | 10:01 EDT |  | M | On The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Cadence (CADX) initiated with a Neutral at Piper Jaffray... Costco (COST) initiated with a Buy at Sterne Agee... Dollar General (DG) initiated with a Neutral at Sterne Agee... Dollar Tree (DLTR) initiated with a Buy at Sterne Agee... Emeritus (ESC) initiated with a Neutral at Goldman... Enbridge (ENB) initiated with an Outperform at Macquarie... ExOne (XONE) initiated with a Buy at Canaccord... Family Dollar (FDO) initiated with a Neutral at Sterne Agee... Five Below (FIVE) initiated with a Neutral at Sterne Agee... Haemonetics (HAE) initiated with an Outperform at JMP Securities... ING Group (ING) initiated with a Buy at Jefferies... J.C. Penney (JCP) initiated with a Buy at Sterne Agee... Kohl's (KSS) initiated with a Neutral at Sterne Agee... Macy's (M) initiated with a Buy at Sterne Agee... Nordstrom (JWN) initiated with a Buy at Sterne Agee... Saks (SKS) initiated with a Neutral at Sterne Agee... Signature Bank (SBNY) initiated with an Overweight at Morgan Stanley... The Fresh Market (TFM) initiated with a Buy at Sterne Agee... The Medicines Co. (MDCO) initiated with an Overweight at Piper Jaffray... Vitamin Shoppe (VSI) initiated with a Buy at Sterne Agee... Whole Foods (WFM) initiated with a Buy at Sterne Agee... SkyWest (SKYW) initiated with an In-Line at Imperial Capital... W&T Offshore (WTI) initiated with a Buy at SunTrust... Canadian Natural (CNQ) initiated with an Accumulate at Global Hunter... Cenovus Energy (CVE) initiated with a Buy at Global Hunter... Suncor (SU) initiated with a Buy at Global Hunter... Freeport McMoRan (FCX) coverage resumed with a Buy at Jefferies. | | | 06:00 EDT | | M | Macy's initiated with a Buy at Sterne Agee
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