Macy's Inc

This series on JCPenney will provide insight into the company’s business and its turnaround strategy, key growth initiatives, stock price movement, and valuation.

Kohl’s (KSS) reported its third-quarter results for fiscal 2018 on November 20. The third-quarter adjusted EPS came in at $0.98, easily beating analysts’ estimate of $0.96.

In fiscal 2014, Nordstrom’s operating margins declined by another 9.8% on the heels of a 10.8% decline in fiscal 2013.

The Redbook Index released the same-store weekly data on Tuesday, March 11, 2014.

After disappointing investors in 2Q15, Kohl’s bounced back in 3Q15, beating the consensus Wall Street analyst earnings and sales estimates in 3Q15.

As of February 28, Macy’s (M) stock was rated a “hold” by 14 out of 20 analysts (70%). Four analysts had a “buy” recommendation while two had a “sell” rating.

Target (TGT) has had one of the most consistent profitability records among consumer discretionary (XLY) companies.

In April 2016, Nordstrom announced certain operating model improvements to generate savings of about $60 million in fiscal 2016.

Macy’s (M) reported its fiscal 2Q17 results on August 10, 2017. Its earnings fell 11.1% to $0.48 per share compared to $0.54 in fiscal 2Q16.

The stock price of leading off-price retailer TJX Companies (TJX) was up 1.8% as of 10:53 AM EST today. The company announced its results for the first quarter of fiscal 2019.

On August 13, 2015, US retail sales came in at expected levels for July. The increase in the retail sector was broad-based.

JCPenney (JCP) expects its same-store sales growth in fiscal 2017 to range from -1.0% to 1.0%.

Macy’s (M) operating margins declined to 6.6% in 1Q15—ending May 2, 2015—from 7.1% in the same quarter last year. The operating income declined by 7.7%.

Sears has been on a store closing spree as it tries to contain rising costs.

According to the BEA, consumer spending remained essentially unchanged despite a 0.3% rise in real disposable income stemming from a higher savings rate.

On August 2, 2016, Nordstrom’s (JWN) stock price had fallen by 18.7% to $40.74 on a YTD (year-to-date) basis.

The department store index performed the worst of all retail subsector indexes in November, falling by 12.3%.

JCPenney’s (JCP) same-store sales declined by 0.4% in 1Q16 ended April 30, 2016.

The consensus analyst recommendation on Wall Street for Macy’s (M) is “hold,” which 13 out of 23 analysts recommend.

Macy’s is expanding its beauty business through the opening of Bluemercury shops within its stores. Macy’s acquired the luxury beauty product and spa services retailer for $210 million in March 2015.

As of March 6, 2018, JCPenney (JCP) stock has risen 19% to $3.76 on a YTD (year-to-date) basis.

Off-price retailer TJX Companies reported its results for fiscal 3Q16 on November 17, 2015. Its sales of $7.8 billion beat the consensus Wall Street analyst sales estimate of $7.7 billion.

As of February 4, 2016, 14 of the 24 analysts covering Kohl’s have a “hold” recommendation for the stock, eight analysts have a “buy” recommendation, and two analysts gave a “sell” recommendation.

Stocks at the top of the SPDR S&P 500 ETF (SPY) on January 11 were Macy’s (M), Kohl’s (KSS), and HCA Holdings (HCA).

Sales beat estimates Off-price retailer Ross Stores (ROST) generated sales of $3.43 billion in fiscal 2Q17, which ended July 29, 2017. The company’s fiscal 2Q17 sales exceeded analysts’ estimate of $3.37 billion, marking the fifth consecutive quarter in which it has done so. Strong sales growth Ross Stores’ sales grew 7.9% YoY (year-over-year) in fiscal […]

Seeing the success of local inventory ads, Google has expanded them to all major economies outside the United States, including the United Kingdom (EWU), France, Germany, Japan, and Australia.

According to data released by the NRF (National Retail Federation) on December 14, 2016, retail sales rose 5.0% on a year-over-year basis in November.

Nordstrom’s (JWN) overall revenue, including credit card revenue, rose 1.1%, -1.4%, and 6.4%, respectively, in 1Q16, 2Q16, and 3Q16.

13 out of 24 analysts have “hold” recommendations on Kohl’s. Eight analysts have “buy” recommendations, and three analysts have “sell” recommendations.

The last three months have seen subdued retail sales despite lower oil prices.

Chilton started a new position in aerospace engineering company TransDigm Group Inc. (TDG) that accounts for 0.76% of the fund’s fourth quarter portfolio.

Nordstrom’s operating margin declined from 11.5% in fiscal 2011 to 11.1% in fiscal 2012 and 10.8% in fiscal 2013.

Most of the analysts who have provided recommendations on Kohl’s (KSS) have maintained “buy” ratings on its stock.

As of May 22, Kohl’s (KSS) was trading at a 12-month forward PE ratio of 11.2x. After the announcement of its first-quarter results on May 22, its valuation multiple has fallen 8.3%.

The Consumer Sentiment Index for March 2015 declined to 93 from 95.4 in the month of February due to slightly higher gas prices and bad weather.

Kohl’s (KSS) peer Macy’s (M) announced better-than-expected fiscal 2018 fourth quarter results on February 26, which led to a rise in stock prices for key players in the department store sector.

JCPenney’s (JCP) sales grew 1.8% in fiscal 4Q17 but missed analysts’ consensus estimate by 0.4%.

As of May 14, 11 out of 18 analysts (or 61%) had a “hold” recommendation on Macy’s stock.

According to the latest data provided by the U.S. Bureau of Labor Statistics, the unemployment rate was down by 1.1 percentage points in 2014.

Nordstrom (JWN) raised its outlook for fiscal 2015, which ends January 30, 2016, backed by strong sales growth in the first half of 2015.

Most department stores, including JCPenney (JCP), Macy’s (M), Nordstrom (JWN), and Kohl’s (KSS), have consensus “hold” ratings for their respective stocks.

Macy’s (M) 12-month forward PE (price-to-earnings) ratio increased by 2.5% to 11.0x on February 23, the day the company announced its fiscal 4Q15 and fiscal 2015 results.

During Amazon’s 4Q16 earnings call, the management didn’t offer a detailed explanation about how it would create the additional 100,000 full-time jobs it promised last month.

Continuing claims numbers stood at 2,257,000 for the week ended August 22, which were lower than the 2,266,000 figure the previous week and a decrease of 0.4%.

Department stores’ results for fiscal 3Q15, which ended October 31, 2015, conveyed mixed signals to investors. Macy’s reported a 5.2% fall in 3Q15 sales.

Kohl’s (KSS) disappointed its investors with lower-than-expected sales of about $4.0 billion in 1Q16.

Subdued US same-store sales are not a favorable indicator for department stores. In 1Q15, which ended May 2, 2015, Macy’s (M) reported a 0.7% fall in same-store sales.

Macy’s announced that it is rolling out same-day delivery of products purchased on its macys.com and bloomingdales.com websites, as well as on its mobile-enabled websites, to nine additional markets.

In Macy’s fiscal 4Q15, which ended January 30, 2016, the company’s gross margin declined to 37.4% from 40.3% in fiscal 4Q14.

Today at 7:09 AM ET, Macy’s (NYSE:M) stock rose 8% to $6.65 in the pre-market session. The shares rose due to positive developments.

On a year-to-date basis, Ross Stores’ stock price has appreciated more than that of other off-price retailers.

Macy’s (M) stock price has fallen a whopping 46.7% this year. On December 21, 2015, Macy’s share price fell to $35.02. It touched its 52-week low of $34.50 on December 17.

Macy’s reported a 0.7% same-store sales decline during the holiday season on an owned basis. Macy’s stock was up 3.0% at 3:25 PM ET today.

Sales under pressure As discussed earlier in this series, Macy’s sales continued to fall for the seventh straight quarter in 3Q16. In 3Q16, which ended on October 29, 2016, Macy’s same-store sales fell 3.3% on an owned basis. The company’s same-store sales fell 2.7% in the quarter on an owned plus licensed basis. Macy’s is […]

In this article, we’ll use the 12-month forward PE (price-to-earnings) ratio to assess Macy’s current valuation and compare it with its peers’.

On January 6, 2016, Macy’s (M) announced measures to enhance productivity and improve performance. It aims to bring down selling, general, and administrative expenses by $400 million.

DE Shaw increased its position in specialty retailer Sears Holdings (SHLD) from 0.01% to 0.07% in 4Q 2013.

Stuart Weitzman’s results were one of the brightest spots in Coach’s (COH) fiscal 2Q16 earnings release.

On May 5, 2015, Macy’s (M) announced that it will enter the off-price business through four pilot stores in New York City.

Analysts’ 12-month price target for Nordstrom’s stock is $56.60.

As of August 4, Macy’s stock price appreciated by 4.4% to $68.57 compared with the beginning of 2015.

Macy’s (M) operating margin in 3Q15 declined to 4.4% from 6.8% in the comparable quarter of the previous year. The company’s 3Q15 operating margin was also lower than its peers.

TJX Companies (TJX) delivered sales of $7.5 billion in the first quarter of fiscal 2017, which ended on April 30, 2016.

Despite more and more companies such as Macy’s (M) entering the off-price space, the position of pure-play off-price retailers is likely to remain strong.

In fiscal 2016, Nordstrom plans to open three new full-line stores and 20 new Nordstrom Rack stores. The company also plans to relocate one full-line store and two Nordstrom Rack stores in fiscal 2016.

At the Goldman Sachs Global Retailing Conference, Macy’s senior management discussed the company’s initiatives to improve Macy’s same-store sales.

Kohl’s stock plunged 9.5% while JCPenney was down 11% today at 1:01 PM ET. These department store chains announced dismal holiday sales.

Kohl’s (KSS) reported better sales numbers than analysts’ projections for three of its reported quarters in 2017, but it missed expectations in one quarter.

At the Nomura conference, Macy’s chief financial officer, Karen M. Hoguet, said that the company believes in creating real value for its real estate.

Kohl’s will likely report its first-quarter results on May 19. The mid-tier department store chain temporarily closed its stores starting on March 19.

Macy’s (NYSE:M) stock rose 4.0% as of 10:00 AM ET on June 9. The company said that it has experienced better-than-expected sales at reopened stores.

JCPenney’s earnings were ahead of the consensus Wall Street analysts’ estimate of $0.21 per share.

Kohl’s (KSS) stock surged 11.9% on April 23 in reaction to news of its expanded partnership with Amazon (AMZN).

JCPenney (JCP) stock rose 1.5% on January 15 in reaction to the mid-tier department store chain’s announcement of key executive appointments.

Aside from expected markdowns on merchandise, Macy’s margins in fiscal 4Q15 are likely to have been impacted by investments in several growth initiatives.

Bank of America Merill Lynch downgraded Macy’s stock to an “underperform” after the department store reported weak holiday sales.

Nordstrom’s same-store sales at both its full-line stores and off-price Nordstrom Rack stores fell in 3Q15.

Ross Stores has continued its expansion over the years, opening 95, 88, and 82 new stores in fiscal 2014, 2013, and 2012, respectively.

IBM (IBM) announced in February 2017 that H&R Block was deploying Watson to its 70,000 tax professionals with the aim of eliminating human errors in tax filing.

Initial jobless claims for the week ending June 13 came in at 267,000 on a seasonally adjusted basis—better than consensus economists’ estimate of 275,000.

Nine out of 25 analysts have a “buy” recommendation for JCPenney’s (JCP) stock, ten have a “hold” recommendation, and six gave a “sell” recommendation.

In March, the Consumer Confidence Index surged to 101.3. In February, it dropped to 98.8 from 103.8 in January. The CSI fell to 93.0 from 95.4 in February.

The 4Q15 sales of upscale department store Nordstrom (JWN) came in at $4.19 billion, missing the consensus analysts’ estimate of $4.22 billion. In this series, we will discuss the company’s earnings, store growth plans, planned capital spending, and the outlook for fiscal 2016.

Sears Holdings (SHLDQ) has been in the limelight for all the wrong reasons.

Nordstrom’s stock price fell by 36.4% in 2015, and the upscale department store’s stock has continued to fall in 2016.

JCPenney (JCP) considers its private brands as key sales drivers. Some of the company’s popular private brands are St. John’s Bay, Arizona, Okie Dokie, Total Girl, and Xersion.

With the US economy gearing itself up for the another rate hike, investors are investing in short-term Treasury securities whose price will fall less in value when interest rates rise.

In 4Q17, Kohl’s (KSS) reported a gross profit of $2.3 billion, up 10.7% on a YoY (year-over-year) basis, driven by higher revenue.

Kohl’s can look for growth opportunities in off-price retailing. It opened its first Off-Aisle by Kohl’s store in 2015, with a slightly different concept.

For the full-year fiscal 2016 ending January 30, 2016, TJX Companies expects a gross margin of 28.5%, unchanged from fiscal 2015.

JCPenney’s strategic initiatives helped improve its bottom line in all of the quarters in fiscal 2015 and in 1Q16. IJJ has 0.4% exposure to JCPenney.

On June 7, JCPenney (JCP) announced its partnership with Fanatics—a leading licensed sports merchandise retailer.

JCPenney (JCP) reported same-store sales growth of 3.9% in November and December—the 2015 holiday season.

JCPenney (JCP) trimmed its adjusted loss per share in fiscal 2Q15 to $0.41 compared to $0.75 in the corresponding quarter last year.

JCPenney’s (JCP) sales fell by 1.6% to $2.8 billion in 1Q16, amid a challenging retail environment.

Nordstrom (JWN) stock fell 2.7% on July 10 following a rating downgrade by KeyBanc Capital Markets to “sector weight” from “overweight.”

On September 8, Macy’s partnership with Best Buy was announced. Macy’s will open licensed Best Buy shops within ten of its stores.

Of the 26 analysts covering JCPenney’s stock, 11 analysts have a “buy” recommendation and 11 analysts have a “hold” recommendation. Four analysts have issued a “sell” rating.

The rise in JCPenney stock is influenced by its improved financials and renewed expectations about growth prospects. In fiscal 2014, JCPenney reported same-store sales growth of 4.4%.