Macy's is a leading retail company that operates a chain of department stores across the United States, offering a wide variety of products including clothing, accessories, home goods, and beauty products
The company is known for its extensive selection of both national and private label brands, catering to diverse customer preferences. Macy's emphasizes customer experience through in-store shopping, online retail services, and various promotional events. With a legacy of innovation in retailing, it also engages in various community and cultural initiatives, further enhancing its brand presence and commitment to social responsibility.
J.P. Morgan analyst Matthew R. Boss downgraded Macy's Inc. (NYSEM) to Neutral, lowering the price target from $19 to $14. Despite a strong Q4 performance, the company's FY25 outlook sees a decline in same-store sales and an uncertain macroeconomic environment, prompting long-term risks with increased store closures and reduced growth expectations.
Department store chain Macy’s (NYSEM) met Wall Street’s revenue expectations in Q4 CY2024, but sales fell by 4.4% year on year to $8.01 billion. On the other hand, the company’s full-year revenue guidance of $21.2 billion at the midpoint came in 0.7% below analysts’ estimates. Its non-GAAP profit of $1.80 per share was 16.7% above analysts’ consensus estimates.
All three major indices remain in the red midday Thursday, after trimming earlier losses which saw the Dow Jones down more than 600 points at session lows. The major averages lost more than 2% this week as U.S.
Macy's shares dropped in premarket following a 4.3% decline in fourth-quarter sales. However, the company posted a positive operating income of $500 million and a better-than-expected adjusted EPS of $1.80. For FY25, Macy's projects revenue between $21.0 billion and $21.4 billion, under analysts' expectations.
U.S. stock futures fell on Thursday following Wednesday’s relief after a two-day fall. Futures of all four benchmark indices fell in premarket trading. President Donald Trump’s administration postponed implementation of auto tariffs by one month on Wednesday after the tariffs on Canada, Mexico, and China were implemented on Tuesday.
Renowned investor and Bitcoin (CRYPTO: BTC) backer Mike Alfred accused Wall Street giants of manipulating the apex cryptocurrency’s price to pressure proxy companies like Strategy Inc. (NASDAQ:M
The earnings focus continues to be on the retail space, with several bellwether operators on deck to report results this week, including Target, Best Buy, Costco, Macy’s, and others.
As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the department store industry, including Dillard's (NYSEDDS) and its peers.
