Hints and tips:
...The company has plans to open more than 120 stores, about half of which will be in North America. Investors will find out more with a trading update on Wednesday....
...Macy’s reports before the opening bell and is expected to post quarterly revenue of $5.64bn, up from $3.55bn a year earlier....
...Macy’s and Dick’s Sporting Goods report before the opening bell. Department store chain Nordstrom, retailer Urban Outfitters and furniture company La-Z-Boy report after the close....
...Discount stores Dollar General and Dollar Tree also report earnings as well as big box retailer Costco Wholesale and department store Macy’s....
...If Trump succeeds, one of the biggest winners will be Patrick Orlando, a Florida-based financial executive whose little-known firm, ARC Global Investments II LLC, put up $25,000 to buy a stake in the blank...
...That’s a big jump from 2020’s revenues ($139m as stated above). The ability for a company to tell its own story makes a big difference....
...Analysts with the brokerage Cowen estimate that Macy’s, which in February was stripped of its investment grade credit rating from S&P Global, has enough cash to weather four months of closures....
...Macy’s balance sheet has long been in better shape than more distressed rivals, although the department store chain lost its investment grade rating from S&P Global last month and was cut further into junk...
...Sharp declines in the department store chains Macy’s and Kohl’s contributed significantly to the total....
...Macy’s stock lost nearly 18 of its value after the department store chain slashed its earnings and comparable sales guidance, noting a slowdown in the middle of December....
...such as Macy’s and JCPenney....
...Element Capital, another hedge fund, opened a starter position in Macy’s....
...The department store sub-index of the S&P 500 has fallen by nearly a third this year, while Credit Suisse estimates more than 140m sq ft of retail will be shut this year....
...The S&P 500 was also 0.2 per cent lower at 2,578.87, with all of its sectors in the red except for utilities, consumer staples and consumer discretionary stocks....
...The news from department store chains has been poor, with Macy’s, Nordstrom and JC Penney all reporting falls in sales in the first quarter....
...Macy’s, which also announced plans to shutter about 15 per cent of its stores, rose more than 17 per cent, while Kohl’s shares were up 17 per cent....
...The record highs also came as better than expected results from Macy’s and other US department stores drove a rally in shares of consumer discretionary stocks....
...Macy’s late on Wednesday lowered its 2015 earnings guidance after same-store sales fell 4.7 per cent in the months of November and December combined, and S&P expects Nordstrom’s sales to be “below expectations...
...Retailers suffered after Macy’s quarterly same-store sales disappointed....
...Macy’s shares jumped almost 8 per cent to $72.01 after an activist investor was reported to have taken a stake in the US department store group, best known for its flagship store in Manhattan....
...The S&P 500 ended the session flat at 2,039.82, the Dow Jones Industrial Average fell 0.1 per cent to 17,634.74 and the Nasdaq Composite rose 0.2 per cent to 4,688.54....
...Macy’s, the largest US department store chain by sales, reported a 2.3 per cent increase in comparable sales, although Terry Lundgren, chief executive, said sales have been “restrained by the series of snowstorms...
...Macy’s dropped 2.2 per cent to $25.42, JC Penney gained 0.7 per cent to $32.77 and Target fell 0.9 per cent to $56.33....
...Macy’s beat analysts’ expectations by tailoring its product offer to local tastes and selling exclusive products....
...Rival Macy’s edged 3.5 per cent lower to $22.42 even after it reported a 1.1 per cent increase in same-store sales last month, exceeding its own and analyst forecasts....
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