UBS Slashes Macy's (M) Estimates
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Evercore ISI Downgrades Macy's (M) to Hold
November 11, 2015 3:57 PM UTCEvercore ISI downgraded Macy's (NYSE: M) from Buy to Hold.
For an analyst ratings summary and ratings history on Macy's click here. For more ratings news on Macy's click here.
Shares of Macy's closed at $47.02 yesterday.
... MoreMacy's cuts full-year forecast, sends shivers through retail
November 11, 2015 8:08 AM UTC(In Nov. 11 story, corrects spelling of Michael in paragraph 4)
By Nandita Bose and Sruthi Ramakrishnan
(Reuters) - Warm weather, low spending by tourists and a pileup of unsold inventory prompted Macy's Inc (NYSE: M) to cut its full-year forecast on Wednesday, raising wide concerns about the retail sector's financial health.
Macy's in a quarterly report also said it would not create a real estate investment trust for its stores, disappointing some investors and helping to push down shares 14 percent for the day.
The long spell of warm weather in... More
Macy's (M) Tops Q3 EPS Views; Trims FY15 EPS Outlook; Will Not Pursue REIT Structure
November 11, 2015 8:01 AM UTCMacy's (NYSE: M) reported Q3 EPS of $0.56, versus the analyst estimate of $0.54. Revenue for the quarter came in at $5.87 billion versus the consensus estimate of $6.12 billion.
Owned comps fell 3.9 percent, versus expectations of a 0.4 percent drop.
Macys, Inc. is pursuing the following strategic real estate initiatives:
Based on a successful collaboration on Macys previously announced Brooklyn store redevelopment project, the company has engaged Tishman Speyer in an expanded relationship to advise and support the companys senior management team in identifying and advancing potential store redevelopment... More