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Macy's Inc.

5/22/2013, 6:50 PM ET

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Friday, May 17, 6:54 AM Retail watch: Chipotle (CMG), J.C. Penney (JCP), and Macy's (M) all hold their annual shareholder meeting today with each company expected to outline channels to find new growth. The trio could also use their meeting to back earnings guidance or tip off current sales trends. Comment! [Consumer]
Wednesday, May 15, 11:30 AM Heard during Macy's (M +2%) earnings call: 1) 2) By category, handbags and active apparel were strong while shoes and cosmetics lagged. 3) Execs trim an earlier estimate for a drop in Q2 sales from Q1, saying the spread will be lower than the original 200 bps to 300 bps forecast. No upped guidance for the full year. 4) Although there isn't a breakdown in quarterly sales, weakness at higher-end Bloomingdale's is cited. (webcast) Comment! [Consumer]
Wednesday, May 15, 8:43 AM Shares of Macy's (M) gain 1.5% premarket after the retailer delivered a narrow profit beat for Q1. Though the retailer didn't break it down, it appears online and mobile channels may have helped it pull through the late start to the spring selling season in better shape than department stores rivals. Comment! [Consumer, On the Move]
Wednesday, May 15, 8:30 AM More on Macy's (M): Comparable sales climbed 3.8% Y/Y during Q1 including online sales. Gross margin flat during the period, while SG&A expenses as a percentage of sales dropped 40 bps to 32%. For the full year, Macy's expects comparable sales to grow by 3.5% and EPS to fall in a range of $3.90 to $3.95. The retailer raised its quarterly dividend by a nickel to $0.25/share and hiked its share repurchase authorization by $1.5B. (PR) Comment! [Consumer, Earnings]
Wednesday, May 15, 8:06 AM Macy’s (M) declares $0.25/share quarterly dividend, 25% increase from prior dividend of $0.20. Forward yield 2.11%. For shareholders of record June 14. Payable July 01. Ex-div date June 12. The board increased share repurchase authorization by $1.5B, bringing the total share repurchase program to approx. $2.6B as of 04 May. (PR) Comment! [Dividends]
Wednesday, May 15, 8:02 AM Macy's (M): Q1 EPS of $0.55 beats by $0.02. Revenue of $6.39B (+4% Y/Y) in-line. (PR) Comment! [Earnings, Breaking News]
Wednesday, May 15, 12:05 AM Notable earnings before Wednesday’s open: AG, AH, CSC, DE, EJ, GLOG, M, OXF, PF, SVNT, WMC Comment! [Earnings]
Tuesday, May 14, 5:30 PM Notable earnings before Wednesday’s open: AG, AH, CSC, DE, EJ, GLOG, M, OXF, PF, SVNT, WMC Comment! [Earnings]
Monday, May 13, 9:11 AM More on retail sales: Building material and garden equipment sales (HD, LOW) were again, up 1.5% M/M and 4.1% Y/Y, while department store sales (SHLD, KSS, M, JWN, JCP) trailed expectations. Grocery store sales (KR, SVU, SWY) slipped during April compared to March but were 2% than a year ago on pricing gains. 1 Comment [U.S. Economy, Consumer]
Tuesday, May 7, 9:29 AM Retail sales numbers for April could be a tad weaker than expected after weekly reports from Redbook and ICSC-Goldman on chain store sales both came in a bit below expectations. Retail read-through: Weather and swings in gas prices seemed to impact store traffic to malls (KSS, DDS, JCP, LTD, GPS, ANF, AEO) and supercenters (WMT, COST TGT), but economists think consumer confidence on the high end (TIF, RL, SKS, COH, BBBY) just might be on the rise. Also, with online sales de-emphasized in the weekly chain store reports - Internet whiz kids Macy's (M) and Urban Outfitters (URBN) could still outperform even if mall parking lots aren't packed. 1 Comment [Consumer, U.S. Economy]
Tuesday, April 30, 2:13 PM Macy's (M -0.7%) loses its appeal seeking to bar J.C. Penney (JCP -3.6%) from selling unbranded goods from Martha Stewart Living Omnimedia (MSO -4%). The ruling helps solve one of J.C. Penney's nagging inventory issues and could set up the JCP Everyday brand for gains if store traffic can be revived. Comment! [Consumer]
Thursday, April 18, 12:30 PM Department store chains are trading weak with weak economic indicators and chatter on weak sales trends at Wal-Mart (WMT -1.5%) swaying sentiment. The sector is already a bit jitterish with Target's (TGT -0.9%) Q1 sales warnings from earlier in the week still resonating. Decliners include Sears Holdings (SHLD -2.5%), Nordstrom (JWN -1.4%), Saks (SKS -1.6%), and Macy's (M -1.2%) - while Fred's (FRED +0.1%) and J.C. Penney (JCP +1.6%) are bucking the trend. Comment! [Consumer, On the Move]
Wednesday, April 17, 3:18 AM New York Appeals Judge Richard Andrias has temporarily blocked J.C. Penney (JCP) from selling "JCP Everyday" products designed by Martha Stewart (MSO). Andrias is due to decide by tomorrow whether to extend the ban while an appeal from Macy's (M) over whether JCP can sell the products is pending. On Friday, a lower-court judge ruled that JCP could do so. (previous) 4 Comments [Consumer, Top Stories]
Tuesday, April 16, 6:13 AM Macy's (M) files an appeal to challenge a judge's decision that J.C. Penney (JCP) can carry Martha Stewart-designed products as long as they don't carry her name. Attorneys plan to argue that the judge erred on several counts in his rulings. The big picture: The case is of critical importance to J.C. Penney with the retailer's all-in bet on its home goods section leaving it with very little margin for errors or surprises. Comment! [Consumer]
Friday, April 12, 1:24 PM A judge in the J.C. Penney (JCP -3%) vs. Macy's (M +0.2%) trial rules that the retailer can sell Martha Stewart (MSO +0.4%) goods under its JCP Everyday label. Macy's request to expand an injunction was denied. The development gives J.C. Penney a little breathing room with its inventory, although a final ruling in the case could still go against it. Comment! [Consumer]
Friday, April 12, 10:27 AM A judge dismisses the claim from Macy's (M +1.9%) of unfair competition by J.C. Penney (JCP -2.9%). The ruling could clear the path for the retailer to sell Martha Stewart Living Omnimedia (MSO) lines again unimpeded. 5 Comments [Consumer]

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