Shares in Macy's (M) are edging up premarket based on rumors that the company may be open to being acquired.
Sold half my position today for a break-even trade. This buy, along with JCP, hasn't worked out the way I planned. I know nothing about retail and should have stuck with my oil and REIT stocks.
Macy's (M) shares are popping 8% on the stock market today on a report that smaller rival Hudson's Bay has approached the department store about a potential buyout. Takeover talks are still in the early stage, said the Wall Street Journal, citing sources familiar with the matter. Discussions of acquiring Macy's real estate are also said to be on the table. Besides its eponymous department store in Canada, Hudson's Bay also owns and operates Saks Fifth Avenue and Lord & Taylor. Outgoing Macy's CEO Terry Lundgren is retiring from the top spot this year but will stay on as chairman. The New York Post reported Thursday that he is open to a sale of the retailer in order to prevent a shake-up on the board. Macy's stock rose 5.2% on Thursday on that report. - IBD
Sold the other half this morning at $33.25. Actually made about $400 on this bad trade and I can't believe it. Still holding a position in JCP.
Shares of Macy’s ($M) have come under pressure in pre-market trading after the department store operator reported first quarter earnings and sales that came in below analyst estimates.
It was a good short from the $40 but it’s time to buy it from here. By the time you will know it will be trading around $30
Their debt is declining, their bonds are undervalued, and their stock is priced as if the company will die. Reversal soon. Nov PT 23$
Macy's ($M) third quarter sales and #earnings missed estimates, despite the bottomline making a decent YoY gain. The numbers show what is in store for the company during the holiday season.
There are 100 more Macy's backstage discount stores will be opened this year. Macy’s sustained focus on price optimization, inventory management, merchandise planning, and private label offering are the primary catalysts, facilitating in meeting customer-oriented demand and improving in-store shopping experience. In an attempt to increase sales, profitability and cash flows, Macy has been taking steps such as integration of operations as well as developing e-commerce business and online order fulfillment centers.
Macy's shares crater 18% on weak holiday sales results, slashed outlook Macy's says same-store sales during November and December were up just 1.1 percent. The department store chain cuts its sales and profit outlook for fiscal 2018. Macy's shares cratered Thursday morning on the news, dragging other retail stocks down including Target and Kohl's. Macy's shares tanked more than 18 percent in pre-market trading Thursday after the department store chain reported weak holiday sales results for 2018 and cut its earnings outlook for the year. The company said online sales in November and December as well as at stores operating for at least 12 months were up a combined 1.1 percent. CEO Jeff Gennette said in a statement the holiday season started strong for Macy's during Black Friday weekend "but weakened in the mid-December period and did not return to expected patterns until the week of Christmas." He added Macy's didn't perform as well during the holidays in categories including women's sportswear, sleepwear, fashion jewelry, fashion watches and cosmetics. Based on Thursday's results, Macy's said it now expects no growth in net sales for fiscal 2018, instead of its previous projection of an increase of between 0.3 and 0.7 percent. It's now calling for diluted earnings per share to fall within a range of $3.95 to $4, compared with a prior range of $4.10 to $4.30. Analysts were calling for earnings of $4.23 a share, according to a survey by Refinitiv. Meantime, Macy's said it now expects same-store sales to be up just roughly 2 percent in fiscal 2018, down from a prior range for same-store sales growth of between 2.3 to 2.5 percent.
