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Macy’s Inc M shares climbed in early trading on Wednesday after the company reported better-than-expected earnings and raised its outlook . The results came amid an exciting earnings season . Here are some key analyst takeaways.

JPMorgan On Macy’s Analyst Matthew Boss reaffirmed an Overweight rating while raising the price target from $25 to $27. Macy’s reported adjusted earnings of 27 cents per share, "more/less doubling mgmt's $0.10-$0.

16 guide," with adjusted EBITDA margins at 7.2%, beating consensus of 6.3%, Boss said in a note.

Same-store sales declined by 0.3%, much better than the Street's estimate of a 2.6% decline, he added.

"Importantly, management cited the Bold New Chapter strategy gaining traction with the First 50 Macy's nameplate doors comping +3.4% in 1Q – outperforming total Macy's nameplate SSS of -0.4% by +380bps (and outperforming the non-go-forward store locations by nearly 800bps," the analyst wrote.

Management raised the full-year earnings guidance to $2.55-$2.90 per share, from $2.

45-$2.85 per share, driven by better same-store sales growth and higher adjusted EBITDA margins, Boss further stated. Check out other analyst stock ratings .

Goldman Sachs On Macy’s Analyst Brooke Roach reiterated a Buy rating while lifting the price target from $22 to $23. Macy's delivered better-than-expected comps, "as successful new store initiatives drove a +3.4% comp at the ‘First 50’ Macy's stores, widening the performance gap vs.

th.

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