Macy's Inc

Macy’s (NYSE:M) and Kohl’s (NYSE:KSS) stocks were down 6.0% and 6.3% as of 12:45 PM ET today following a rating downgrade.

Kohl’s (NYSE:KSS) stock rose 9% on Wednesday. Bank of America upgraded its rating for the mid-tier department store chain.

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.

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 May 21, TJX Companies (NYSE:TJX) reported weaker-than-expected results for the first quarter of fiscal 2021. COVID-19 impacted the results.

Macy’s (NYSE:M) preliminary first-quarter results were announced today. The results reflected the impact of COVID-19 on retailers.

Kohl’s first-quarter net sales declined 43.5% YoY (year-over-year) to $2.16 billion. The company lagged analysts’ estimate of $2.18 billion.

Best Buy (NYSE:BBY) stock surged about 11% on Monday after Telsey Advisory upgraded it to “outperform” from “market perform.”

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.

Dillard’s (NYSE:DDS) stock gained around 9% in after-hours trading on Thursday following its lower-than-expected first-quarter results.

COVID-19 might lead to doom for department store chains like Macy’s (NYSE:M) and JCPenney (NYSE:JCP). They struggled before the pandemic.

Mid-tier department store chain JCPenney (NYSE:JCP) might file for bankruptcy. The news dragged the stock down by 26% as of 9:56 AM ET today.

Levi Strauss has risen more than 9% during today’s trading session. The company is scheduled to report its first-quarter results after the closing bell today.

Gap stock has fallen during the trading session today. The company announced that it will withdraw its guidance, halt its dividend, and cut expenses.

Walmart (NYSE:WMT) stock has been rising despite the economic fallout amid the coronavirus outbreak. The stock has gained 11.4% this month.

On March 15, Nike announced that it will close its stores in the US, Canada, Western Europe, and Australia from March 16–27 amid the coronavirus outbreak.

Department store investors faced another setback. Nordstrom (NYSE:JWN) stock fell by 1.7% on Wednesday as Barclays downgraded it to “underweight.”

Kohl (NYSE:KSS) stock rose 4.1% in pre-market hours trading today. However, the stock fell 2.2% as of 12:31 PM ET amid volatile market conditions.

TJX Companies stock touched a new 52-week high of $64.95 on Wednesday. The company declared strong fourth-quarter results and a dividend hike.

Walmart is scheduled to release its results for the fourth quarter of fiscal 2020 on Tuesday before the market opens. Currently, the stock is down year-to-date.

Macy’s has decided to close 125 stores over the next three years. The company will also reduce 10% of its staff, which is around 2,000 corporate jobs.

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.

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.

Kohl’s stock has been seeing increased pessimism among analysts lately. Jefferies downgraded its rating for the stock yesterday, followed by Cowen today.

Shopify (SHOP) stock has generated stellar returns of around 194.7% on a YTD (year-to-date) basis as of December 27. The S&P 500 has risen about 29.3% YTD.

JCPenney (JCP) stock rose 9.6% this year. Investors were relieved when the store announced better-than-expected third-quarter results in November.

Macy’s and Nordstrom stocks rose 2.6% and 1.8% on Thursday. Mastercard SpendingPulse reported a 3.4% rise in US retail sales during the holiday season.

Consumer stocks like Macy’s (M), Kraft Heinz (KHC), Gap (GPS), Altria (MO), and Walgreens (WBA) are lagging the broader markets by a wide margin.

Kohl’s stock has dropped 24.9% so far this year. Its peers Macy’s and Nordstrom have declined 47.5% and 16.6%, respectively, YTD.

On Monday, Goldman Sachs downgraded Macy’s (M) rating to “sell” from “neutral.” Goldman Sachs analyst Alexandra Walvis also lowered the target price.

The holidays contribute a significant share to the sales of department stores such as Macy’s. However, its recent performance has crushed investors’ hopes.

Based on its closing price of $15.48 on November 27, Macy’s stock has an attractive dividend yield of 9.8%. Here’s what investors should know about Macy’s.

Dick’s Sporting Goods (DKS) stock surged 19.1% today after the company announced strong earnings results for the third quarter.

Nordstrom’s third-quarter earnings drove a 10.6% rise in its stock on November 22. The company announced its earnings after the market close on November 21.

Macy’s (M) earnings for the third quarter yet again reflected the struggle that’s facing department stores in this highly competitive retail market.

Yesterday, Macy’s (M) stock fell 10.9% after department store peer Kohl’s (KSS) announced weak third-quarter results and shared a gloomy outlook.

Mid-tier department store chain JCPenney (JCP) impressed investors by reporting a lower-than-anticipated loss for the third quarter of fiscal 2019.

Google (GOOG) won a deal to provide cloud computing services to Ascension, the largest Catholic health system in the world.

Gap stock fell about 6% in after-hours following management’s guidance cut. The company also announced the exit of CEO Art Peck.

Amazon stock slid 1.1% on Friday after reporting its Q3 earnings. Despite Amazon’s disappointing results, CNBC host Jim Cramer is bullish on its stock.

Amazon (AMZN) is scheduled to announce its third-quarter earnings after the markets close on Thursday. Will the results impact other retailers?

Macy’s (M) stock fell 4.2% on October 18 after Credit Suisse downgraded its rating. Credit Suisse downgraded the rating to “underperform” from “neutral.”

US retail sales grew by 3.5% in the first half of 2019. The retail sector of the S&P 500 Index includes 29 stocks representing a broad variety of retailers.

Levi Strauss reported its Q3 results after market hours yesterday. Levi’s Q3 EPS of $0.31 exceeded analysts’ expectations of $0.27.

The retail sales for 2018 were $4.3 trillion. From January to July 2019, the retail sales in this category rose 3.5% over the comparable period in 2018.

The US retail sector has seen a bloodbath in the last five years. The latest to join the list is Forever 21, which filed for bankruptcy on Sunday.

Macy’s (M) stock offers a stellar dividend yield of 9.8%. However, the company’s dividend yield is high due to the sharp decline in its stock price.

Nordstrom (JWN) stock was up 16% as of 11:50 AM today after it reported better-than-expected earnings for the second quarter of fiscal 2019.

Kohl’s (KSS) stock was down 6.3% as of 12:35 PM ET today as the company lagged analysts’ sales forecast for the second quarter.

JCPenney (JCP) stock rose 14% in today’s pre-market hours and was up 3.4% as of 2:19 PM ET after more disappointing earnings results.

In April, Google (GOOGL) unveiled Cloud for Retail, a package of cloud computing solutions specifically designed for retailers.

Macy’s (M) weak fiscal 2019 second-quarter results pulled down its stock by 13.2% yesterday. Peer stocks, struggling due to online players, also fell.

Macy’s was down 14% as of 12:01 PM ET today after it announced a significant fall in its second-quarter earnings and lowered its full-year outlook.

Macy’s (M) is set to declare its fiscal 2019 second-quarter earnings results on August 14. Analysts expect Macy’s sales and earnings to fall in the quarter.

Nordstrom (JWN) rose 7.9% on July 31, reacting to reports that the Nordstrom family may increase its stake from one-third to over 50% in the chain.

Levi Strauss stock fell 4.6% yesterday after Goldman Sachs downgraded it to “sell” from “neutral.”

On Wednesday, NIO (NIO) continued to trade on a strong bullish note for the seventh consecutive session.

Nordstrom (JWN) stock was down 2.5% as of 1:11 PM ET today after Goldman Sachs downgraded its rating for the department store chain to “sell” from “neutral.”

Over 500 companies and several trade associations reached out to President Trump to reconsider tariffs on Chinese imports. In a letter dated June 13, major US companies from various sectors indicated that tariffs would negatively impact businesses, consumers, and the overall US economy.

Macy’s (M) gross margin contracted ~80 basis points to 38.2% in the first quarter of fiscal 2019, which ended on May 4.

Macy’s (M) same-store sales grew 0.6% on an owned basis and 0.7% on an owned-plus-licensed basis in the first quarter of fiscal 2019.

Goldman Sachs upgraded its rating for Macy’s stock after Macy’s fiscal 2019 first-quarter earnings release.

Macy’s (M) same-store sales grew 2.0% on an owned-plus-licensed basis in fiscal 2018, which ended on February 2.

Kohl’s (KSS) net sales fell 3.4% to $6.54 billion in the fourth quarter of fiscal 2018.

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

Nordstrom’s revenue (including retail net sales and credit card income) rose 2.5% to $15.9 billion in fiscal 2018, which ended on February 2.

Nordstrom (JWN) stock rose 1.7% on April 10 after KeyBanc upgraded its rating to an “overweight” from a “sector weight.”

Currently, analysts expect JCPenney’s revenue to decline in fiscal 2019.

As of 8:36 AM, Nordstrom (JWN) had risen 2.0% today. The company announced mixed results for fiscal 2018’s fourth quarter after markets closed yesterday.

Macy’s (M) adjusted EPS fell 4.2% YoY (year-over-year) to $2.73 in fiscal 2018’s fourth quarter (ended February 2).

Macy’s (M) net sales grew 0.1% to ~$25.0 billion in fiscal 2018 (ended February 2). The company’s same-store sales grew 2.0% on an owned-plus-licensed basis.

Macy’s (M) stock rose 1.5% on February 26, the day the company announced its results for fiscal 2018 and the fourth quarter (ended February 2).

JCPenney (JCP) stock rose 22.5% as of 9:49 AM EST on February 28 due to the company’s fourth-quarter results.

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.

Nordstrom (JWN) is set to declare its fiscal 2018 fourth-quarter results after markets close on February 28.

As of February 20, Macy’s (M) 12-month forward PE multiple was 7.6x, 12.3% lower than when it announced its lowered outlook for fiscal 2018 on January 10.

Macy’s (M) reported sales growth in the first and third quarters of fiscal 2018, while its top line declined in the second quarter.

Department store chain Macy’s (M) is set to announce its fiscal 2018 fourth-quarter results on February 26.

JCPenney (JCP) will stop selling major appliances at its stores starting at the end of February.

In the first nine months of fiscal 2018, Macy’s (M) delivered a higher gross margin than Nordstrom (JWN) did.

After weak holiday sales, Macy’s (M) expects same-store sales growth (or SSSG) of about 2.0% (on an owned-plus-licensed basis) in fiscal 2018.

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

On January 16, Kohl’s (KSS) 12-month forward PE ratio was 12.1x. Meanwhile, Nordstrom (JWN), Macy’s (M), and Dillard’s (DDS) have PE ratios of 12.1x, 7.3x, and 11.2x, respectively.

For the fourth quarter of fiscal 2018, Wall Street analysts expect Kohl’s (KSS) sales to fall 2.7% YoY (year-over-year) to $6.59 billion.

Nordstrom (JWN) stock declined about 4% in after-market hours on January 15 after the company reported weak same-store sales for the holiday period.

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

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

Kohl’s (KSS) stock fell 4.8% on January 10. Investors were disappointed with the sales growth deceleration during the holiday season.

Macy’s (M) sales grew in the fourth quarter of fiscal 2017 after declining for 11 consecutive quarters.

JCPenney’s (JCP) disappointing performance in recent quarters has dragged its stock down 62.3% since the start of this year.

Over the trailing 11 quarters, Kohl’s (KSS) has beaten top-line estimates eight times and missed them on three occasions.

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.

On November 20, Kohl’s Corporation (KSS) posted its third-quarter results. Net sales of $4.37 billion and adjusted EPS of $0.98 beat the consensus estimates.

Nordstrom (JWN) stock fell 9% in after-hours trading on November 16 following the announcement of its third-quarter results.

Macy’s (M) net sales grew 2.3% on a YoY basis to $5.4 billion, which was in line with analysts’ estimate in the third quarter of fiscal 2018.

JCPenney (JCP) disappointed investors yet again when it reported its fiscal 2018 third-quarter results on November 15.

Nordstrom (JWN) has exceeded analysts’ earnings expectations in eight of the past ten quarters.

In this series on Nordstrom’s upcoming third-quarter results, we’ll discuss the expectations for the company’s top line, margins, and earnings.

JCPenney stock rose 9.6% in after-hours trading on October 2 following the announcement that Jill Soltau will be the company’s new CEO.