Macys Inc. (NYSE:M) Reports 1Q18 Profit Surge; Tops Estimate

Macy's Q1 Earnings Report What You Need To Know

The stock climbed as much as 9.4 percent to $32.74 as of 9:39 a.m.in NY, the biggest intraday advance since February 27.

The company also saw a boost from global tourism but said it would be ending its joint venture with Fung Retailing Limited in China.

CNBC has the details on Macy's strong report. The stock now has an average rating of "Hold" and a consensus target price of $26.63.

Shares of NYSE:M traded up $0.15 during trading on Friday, reaching $29.79. The stock showed a positive performance of 9.56% in the recent trading session at 11:13 a.m. EST.

For an introduction to cycle analysis, check out our video on Stock Market Cycles. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.47 and a quick ratio of 0.45.

According to CNN Money, the 17 analysts, offering 12-month forecasts regarding Macy's Inc's stock price, have a median target of $31.00, with a high estimate of $36.00 and a low estimate of $21.00.


The department store has kept its clearance racks in check and has less stale inventory on the floor.As a result, Macy's managed to cross the first quarter earnings and sales expectations of the analysts. The firm had revenue of $5.54 billion for the quarter, compared to analyst estimates of $5.39 billion. The revenue of the company rose to $5.5 billion while the expected revenue was $5.4 billion. Macy's had a net margin of 6.23% and a return on equity of 24.93%.

Neil Saunders, managing director of GlobalData Retail, pointed out in comments emailed to Retail Dive that Macy's in Q1 moved up its popular Friends and Family promotion (which previously came in the second quarter), and was also posting comps that compared favorably to an abysmal sales period in Q1 2017.

While it may be too soon to call a definitive turnaround, particularly in the midst of what CEO Jeff Gennette on Wednesday's earnings call described as "the most competitive retail environment I've ever seen", signs are hopeful for the company, which raised its projections for adjusted earnings per diluted share from $3.75 to $3.95 for the year, again surpassing analyst forecasts.

Including Wednesday's gains, Macy's shares are up about 25 percent so far this year. "We're getting better sell-throughs and more value for it". The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Karen M. Hoguet sold 67,515 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $29.25, for a total transaction of $265,941.00. Insiders own 2.36% of the company's stock. The disclosure for this sale can be found here. The company said some of its best-selling categories were fine jewelry and dresses. Harvest Fund Management Co.

"To be fair, this still represents progress from the 1.4 per cent increase Macy's posted last quarter". The fund owned 619,642 shares of the company's stock after selling 72,088 shares during the quarter. Same-store sales on an owned plus licensed basis could rise as much as 2 percent. The institutional investor bought 368,890 shares of the company's stock, valued at approximately $10,971,000. Finally, Enterprise Financial Services Corp grew its holdings in shares of Macy's by 102.4% in the fourth quarter. Doyle Wealth Management now owns 27,770 shares of the company's stock valued at $826,000 after buying an additional 2,265 shares during the period. It also operates as a spa and beauty products retailer.

Related News:



Most liked

Scott Pruitt Should be 'Under Oath Before Breakfast'
Additionally, a USA senator blasted Pruitt for flying first-class because of security reasons, saying no one 'knows who you are'. As Pruitt left the hearing room, protesters trailed him through the halls of the Senate office building shouting "Mr.

The Senate argues that Putin interfered to help Trump win the election
A big question has been whether that was his father, and whether Trump Jr. might have informed his father about the meeting. Trump has denied any collusion with Russian Federation on his campaign and calls Mueller's investigation a "witch hunt".

"Deadpool 2" Expected To Pull In $350 Million Worldwide This Opening Weekend
That was the weird dynamic on display in 2016's surprise hit Deadpool , and just as prominent in the new follow-up, Deadpool 2 . Deadpool 2 , which opens in Singapore on Thursday (May 17), offers more wisecracking action from the Marvel superhero character.

Nick Cave and Warren Ellis to score new Adnan Syed TV Series
The series will start by look into the events leading up to Min Lee's disappearance and go all the way through to the present day. The premiere date of " The Case Against Adnan Syed " hasn't been announced yet, but it will debut on HBO in the United States.

The Crew 2 closed beta starts in late May on PC, consoles
The open-world and racing were praised on release, but the always online requirements were a source of frustration for players. The closed beta will be kicking off at the very end of this month (May 31st) and following until June 4th.

Mum's proposal upstaged by peeing three-year-old son
While a moment is being captured, making an unwanted presence felt in the frame is good fun. The video was originally posted to Facebook but removed after a complaint was filed.

Dog saves friend from drowning in family's pool after falling in
A viral video shows a hero dog saving his buddy after it fell into a backyard pool and could have drowned. The video was captured on a security camera at the home of Laurie and Jay Becerra, KSAT reported .

Royal wedding: Who is father-of-the-bride Thomas Markle?
He also says he was admitted to hospital for a heart attack one week ago, but checked himself out so he could attend the wedding. Samantha confirmed the family didn't do it for money, but didn't deny that her father had been paid.

East Orchard Mesa girl in 'fair' condition after bear attack
Colorado Parks and Wildlife officers are trying to find the bear with the help of federal wildlife services personnel. Wildlife officers in Mesa County are now searching for the bear to make sure no one else is attacked.

Gwyneth Paltrow Shares A Rare Photo Of Daughter Apple
Gwyneth Paltrow and Chris Martin are known for "consciously uncoupling" and being perhaps the most chill divorced couple ever. Gwyneth celebrated Mother's Day by posting this throwback nude snap of herself pregnant with daughter Apple .

Crystal Palace boss Roy Hodgson gives Wilfried Zaha's transfer update
The Eagles are unbeaten in their last five games, winning three games and picking up 11 points. Palace missed out on a place in the top ten on goal difference.

Trailer of Freddie Mercury's 'Bohemian Rhapsody' out
Bohemian Rhapsody is scheduled for release in the United States on 2 November, however an Australian date is yet to be announced. The first trailer for Fox's upcoming Queen movie Bohemian Rhapsody has come online-and it is pretty great.

Barletta scores GOP victory, primed to battle Casey for Senate
Trump captured the state in 2016 by less than one percentage point, becoming the first Republican to win Pennsylvania since 1988. Fischer, the incumbent, defeated four GOP challengers and will be the strong favorite to win re-election in deep-red Nebraska.

WhatsApp Introduces New Group Chat Features, Improved Admin Controls
WhatsApp has taken notice and has introduced a number of new features to help admins and users to keep the group on track. WhatsApp says the tool is created to help users quickly get up to speed inside a group after being away from the chat.

WOW air Announces New Route From The US To India Via Iceland
Skúli Mogensen , the owner and CEO of WOW air has previously said that Asia is a major future growth market for the airline. The "Wow basic" one-way fare includes all taxes but excludes meals and check-in baggage, said an NDTV report quoting PTI .