S&P 500
7,519.20
-0.91%
Dow Jones
52,522.50
-0.45%
Nasdaq 100
29,259.50
-2.10%
Russell 2000
2,951.46
-1.04%
FTSE 100
10,511.30
-0.31%
Nikkei 225
67,064.70
-3.25%

Retail

Macy’s Sigh of Relief, But No More Monthly Guidance (M)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Macy’s (NYSE: M) posted earnings of $1.73 EPS and revenues were $8.59 Billion versus $1.60 EPS and revenues of $8.62 Billion estimates from First Call.  Same store sales for the quarter were -2%.  As far as Fiscal Jan-2009, Macy’s sees $1.85 to $2.15 EPS versus $2.03 EPS estimates.

The company may have just irked some analysts now that the company has announced it will no longer issue issue monthly sales numbers and guidance.  Macy’s has repurchased roughly 13 million shares for some $318 million during the quarter, and it still has $850 million left in its current buyback program.

Macy’s is following the same trend as Nordstrom last night by rallying on earnings because of previously lowered guidance and the street has apparently decided it has discounted shares after large haircuts to the price of stock.

Jon C. Ogg
February 26, 2008

Contact [email protected] for any questions or corrections.

*$149 for two years (or $1.43 per week) is an introductory promotion for new members only. 62% discount based on the current list price of Stock Advisor of $199/year. Membership will renew at the then-current list price at the end of the membership term.

Stock Advisor returns are 930% as compared to the S&P 500 returns of 185% as of April 7, 2026.

Follow 24/7 Wall St. on Google
Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

A $250,000 Annuity Guarantees $1,600 a Month for Life, but What Are Retirees Giving Up?
Carl Sullivan |

A $250,000 Annuity Guarantees $1,600 a Month for Life, but What Are Retirees Giving Up?
$1.4M in Your 401(k) at 65? The $230,000 Tax Surprise You Can Still Avoid
Ian Cooper |

$1.4M in Your 401(k) at 65? The $230,000 Tax Surprise You Can Still Avoid

Continue Reading

Douglas A. McIntyre |

Macy’s Highlights Value-Performance Conundrum in Dept. Stores (M, JWN, KSS)

Macy’s Inc. (NYSE: M) is showing just how much of a conundrum there is between today’s retail stock valuations and…

Macy’s Rises on Solid Earnings
Chris Lange |

Macy’s Rises on Solid Earnings

Macy's reported mixed fiscal third-quarter financial results and offered guidance before the markets opened on Thursday.

Jon C. Ogg |

Kohl’s Doesn’t Stand Up to Macy’s (KSS, M)

The earnings report from Kohl’s Corporation (NYSE: KSS) was partly like the Macy’s Inc. (NYSE: M) report yesterday, but the…

Can Anything Give Macy’s Stock a Shot in the Arm?
Paul Ausick |

Can Anything Give Macy’s Stock a Shot in the Arm?

Retail giant Macy's reported sequential improvement in sales and net losses were smaller for the third quarter. But investors aren't…

Jon C. Ogg |

Next Week’s Can’t Miss Earnings (CSCO, DIS, RAX, M, DV, JWN, LDK, SPWRA)

Earnings season seems to be coming to an end.  We still have major earnings on deck next week from some…

What’s Making Nordstrom Earnings Look Good
Paul Ausick |

What’s Making Nordstrom Earnings Look Good

Nordstrom reported Q2 earnings Thursday after the bell and beat both profit and sales estimates. Shares traded higher in the…

Macy’s Piles On More Bad News
Paul Ausick |

Macy’s Piles On More Bad News

Macy's third-quarter results were mixed, with profits beating expectations and sales missing. The company said a slow start to winter,…

Paul Ausick |

Macy’s Earnings Stung by Weather-Related Store Closings

Macy's reported better-than-expected fourth-quarter and full-year 2013 earnings before markets opened Tuesday morning. The company also reiterated its previously announced…

Macy’s Earnings Hit by Weak Sales, Lowered Guidance
Paul Ausick |

Macy’s Earnings Hit by Weak Sales, Lowered Guidance

Macy’s reported mixed first-quarter 2016 results and hiked its dividend before markets opened Wednesday morning.

Top Gaining Stocks

FactSet Research Systems
FDS • Vol: 909,050
Gartner
IT • Vol: 1,373,760
Intuit
INTU • Vol: 5,664,521
Valero Energy
VLO • Vol: 2,780,825
Paycom Software
PAYC • Vol: 620,555

Top Losing Stocks

Coterra Energy
CTRA • Vol: 73,319,495
Oracle
ORCL • Vol: 56,103,139
Intel
INTC • Vol: 99,380,665
Lam Research
LRCX • Vol: 9,756,273
ON Semiconductor
ON • Vol: 9,443,049