What Macy's Got Right in Q1

What Macy's Got Right in Q1

The stock had a trading volume of 393,408 shares, compared to its average volume of 10,137,291. During the same period in the prior year, the firm earned $2.02 earnings per share. research analysts predict that Macy's Inc. will post 3.64 EPS for the current year.

And this timing shift likely means second-quarter results are going to look relatively weak compared to a year earlier. Over the last quarter, insiders sold 107,392 shares of company stock valued at $3,173,164.

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 company said its strength was broad-based across geographic regions and across its stable of brands, which includes Bloomingdale's and Bluemercury.

Gennette, who took over for longtime Macy's CEO Terry Lundgren in March 2017, added that consumer spending remained "healthy" and that there were "significant improvements in worldwide tourism". "The winning formula for Macy's, Inc.is a healthy brick & mortar business, robust e-commerce and a great mobile experience".

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"Our first quarter performance reflects solid execution of our North Star Strategy, counting merchandising and marketing activities".

Gennette said on an earnings call the company saw double-digit growth in its digital business and continued healthy consumer spending. Taken together, these positive factors give us confidence to raise both our sales and earnings guidance for the fiscal year.

Headquartered in Cincinnati, Ohio, M recorded net sales that rose 4% to $ 5.54 billion from $ 5.35 billion in the same quarter a year ago. Following the sale, the chief financial officer now directly owns 67,515 shares in the company, valued at $1,984,265.85.

The real test of what Macy's is up to could come next quarter. Stripping out impairment charges and other costs, earnings were 48 cents per share.

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Net income totaled $139 million for the quarter, or 2.5 percent of sales, compared to $78 million, or 1.5 percent of sales, for the same quarter past year.

Total sales in 2018 are predicted by Macy's to climb as much as half a percent. Net operating cash flow jumped 36% to $322 million. The new initiative allows customers to scan a product using their Macy's app, pay with their Macy's credit card, then visit a dedicated counter to remove security tags before they can exit the store. Instead, Macy's will remain on TMall platform of Alibaba and focus its efforts there. The Macy's e-commerce team in San Francisco will manage the ongoing China business with operational support from Fung Omni in Shanghai.

In other news, Director Deirdre P. Connelly sold 9,092 shares of Macy's stock in a transaction dated Thursday, March 8th.

As the recently-floundering retailer keeps raising its outlook, though, it also risks creating expectations it can't meet.

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When it comes to revenue for 2018, Macy's Inc says it is expecting it to range from a 1% decline to a 0.5% increase from 2017 revenue.

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