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Stock Market & Financial Investment News

News Breaks
May 13, 2014
12:43 EDTMEarnings Preview: Analyst doesn't see Macy's revising FY14 guidance in Q1 report
Macy's (M) is scheduled to report first quarter earnings before the market open on Wednesday, May 14, 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 59c on revenue of $6.46B, according to First Call. The consensus range for EPS is 52c-64c on revenue of $6.38B-$6.59B. LAST QUARTER: Macy's reported fourth quarter EPS of $2.31 excluding items, against estimates for $2.17, on revenue of $9.2B, against estimates for $9.27B. Same-store sales in the quarter were up 1.4% and up 2.3% for comparable sales combined with comparable sales from departments licensed to third parties. Macy's backed its fiscal year 2014 EPS guidance of $4.40-$4.50. The consensus for FY14 EPS is $4.48. Capital expenditures for the year are expected to be approximately $1.05B. NEWS: On its last earnings conference call, Macy's forecast a higher comp gain in the second quarter vs. the first quarter and said it expected a "flattish to down slightly" gross margin rate for the year. The company forecast total sales growth "approximately the same" as SSS growth this year. The retailer said trends began to recover after Valentine's Day. At the Telsey Advisory Group Spring Consumer Conference, Macy's revised its FY14 SSS growth outlook to 2%-3% from 2.5%-3%. The company commented that the environment was very promotional and that consumers were not "overwhelmingly excited" about spending. Macy's said it would continue to close stores that are no longer cash positive or "no longer worth investing in." In April, Macy's named Jeffrey Gennette as president. STREET RESEARCH: Buckingham believes April and May trends at the retailer strengthened, and expects the company will maintain its FY14 guidance. During the quarter, shares were upgraded to Outperform from Market Perform at Wells Fargo. PRICE ACTION: Over the last three months, Macy's shares are up over 8%. The stock was up fractionally to $57.42 in mid-morning trading ahead of tomorrow's report.
News For M From The Last 14 Days
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February 11, 2016
08:25 EDTMUBS to hold a trip
Spring Mall Crawl visits various companies in the malls in Atlanta, Georgia on February 11.
February 8, 2016
09:01 EDTMMacy's partners with AwesomenessTV to debut In Awe Of You lifestyle brand
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February 5, 2016
06:23 EDTM20 companies make alliance to keep down healthcare costs, WSJ says
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February 4, 2016
10:28 EDTMKohl's slumps after cutting forecast on lower than planned sales, margins
Shares of Kohl's (KSS) are plunging after the department store retailer cut its earnings per share guidance for fiscal year 2015 based on lower than planned sales for the quarter and "significantly" lower gross margins. WHAT'S NEW: Kohl's said this morning that comparable store sales for the fourth quarter increased 0.4%, with total quarterly sales rising 0.8%. The company said that despite a "very strong" holiday selling season, sales were "very volatile and less than planned" in the quarter. Additionally, Kohl's said the holiday season results were offset by a "very slow start" to Q4 in November as well as a weaker than expected January due to soft demand for cold-weather goods that led to lower store traffic. Looking ahead, Kohl's cut its FY15 EPS view to $3.95-$4.00, excluding losses from debt repayment, against analysts' consensus estimate of $4.30. Kohl's previously expected FY15 EPS to be at the low end of its $4.40-$4.60 range. Kohl's said it lowered its guidance as a result of lower than expected quarterly sales and "significantly lower than planned" gross margin. Kohl's is expected to report Q4 results on February 25. WHAT'S NOTABLE: Kohl's is considering whether to hire an investment bank to advise the company on alternatives including going private or a break up, The Wall Street Journal reported on January 11, citing a source. Kohl's executives are said to be open to a strategic review, the source said. ALSO NOTABLE: Retailer Ralph Lauren (RL) this morning said that while international net revenue grew 6% in constant currency in its third quarter, North America revenue declined 4%, due in part to warmer temperatures for the fall and holiday season. ANALYST OPINIONS: Buckingham yesterday upgraded Kohl's to Buy from Neutral, as the firm expected Kohl's SSS to rise by a low single digit percentage level in Q4. Analysts at Stifel said on January 11 that Kohl's could be worth as much as $95 in a takeover. PRICE ACTION: Kohl's is down over 14% to $43.72 in morning trading. OTHERS TO WATCH: Ralph Lauren is down over 17.5% to trade near $95 per share. Department store peers Macy's (M) and J.C. Penney (JCP) are down 3% and 2%, respectively, this morning.
February 1, 2016
16:17 EDTMPVH, G-III Apparel announce license agreement for Tommy Hilfiger womenswear
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14:05 EDTMMacy's announces senior executive changes amid 'evolving' consumer preferences
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