Wed, Aug. 12, 8:29 AM
- Macy's (NYSE:M) launches an online flagship store in China through an exclusive deal between its local joint venture and Tmall Global.
- Macy's China Limited will debut the online store later this year on the Alibaba property.
- More details on the venture are expected to be disclosed during Macy's earnings call at 9:00 AM ET (webcast).
- Previously: Macy's misses by $0.12, misses on revenue (Aug. 12 2015)
- Previously: Macy's misfires in Q2 (Aug. 12 2015)
Wed, Aug. 12, 8:24 AM
- Management with Macy's (NYSE:M) calls Q2 "disappointing" due to internal and external factors.
- Comparable-store sales on an owned+licensed basis fell 1.5% during the quarter.
- Gross margin rate -50 bps to 40.9%.
- SG&A expense rate +150 bps to 33.8%.
- Operating income rate -200 bps to 7.1%. Planned markdowns delayed by the Q1 port slowdown factored in.
- Guidance: Macy's maintains previous guidance of 2015 EPS at $4.70-$4.80 which factors in a $250M gain from the sale of real estate in Brooklyn.
- Previously: Macy's misses by $0.12, misses on revenue
- M -1.21% premarket to $66.71.
Wed, Aug. 12, 8:03 AM
Tue, Aug. 11, 5:30 PM
Wed, May 13, 8:16 AM
- Macy's (NYSE:M) says sales were impacted in Q1 from the West Coast port slowdown and a lower level of spending from international tourists.
- Comparable-store sales on an owned+licensed basis fell 0.1% during the period.
- Gross margin rate +10 bps to 39.0%.
- SG&A expense rate +60 bps to 32.4%.
- Operating income rate -50 bps to 6.6%.
- Inventory ended the quarter up 2.7% Y/Y.
- The company adds $1.5B to its buyback allowance.
- Guidance: Macy's backs its previous view for 2015 EPS of $4.70-$4.80.
- Previously: Macy's misses by $0.06, misses on revenue
- M -2.59% premarket.
Wed, May 13, 8:03 AM
Tue, May 12, 5:30 PM
Tue, Feb. 24, 8:14 AM
- Macy's (NYSE:M) reports comparable-store sales rose 1.4% in Q4.
- Operating margin -10 bps to 14.6%. The mark improves to 15.5% if merchandising and marketing restructuring initiatives are backed out.
- EBITDA as a percentage of sales was on target at 14% during the quarter.
- 2015 guidance: Sales growth of 1%; EPS of $4.70-$4.80; capex spending of $1.2B.
- M -1.48% premarket.
Tue, Feb. 24, 8:08 AM
Mon, Feb. 23, 5:30 PM
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Nov. 12, 2014, 8:12 AM
Nov. 12, 2014, 8:10 AM
- Macy's (NYSE:M) reports comparable-store sales fell 0.7% in Q3.
- The comp was 1.4% lower if sales to licensed businesses are backed out.
- Gross margin rate flat at 39.2%.
- SG&A expense rate -110 bps to 32.4%.
- Merchandise inventory +40.2% Y/Y to $7.789B.
- Guidance: Full-year EPS of $4.25-$4.35 vs. $4.40-$4.50 prior and $4.40 consensus.
- M -0.2% premarket.
Nov. 11, 2014, 5:30 PM
Aug. 13, 2014, 8:21 AM
- Macy's (NYSE:M) reports comparable-store sales rose 4% in Q2. The tally includes sales for departments licensed to third parties.
- Gross margin rate -40 bps to 41.4%.
- Merchandise inventories -2.5% to $5.42B.
- Guidance: Full-year EPS range of $4.40-$4.50 maintained; comp sales gain of 1.5% to 2% forecast.
- M -4.2% premarket
Aug. 13, 2014, 8:04 AM
Aug. 12, 2014, 5:30 PM
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