What to Expect When Macy’s Reports Wednesday Morning
Macy’s is scheduled to release its fiscal second-quarter financial results before the markets open on Wednesday.
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Macy’s Inc. (NYSE: M | M Price Prediction) is scheduled to release its fiscal second-quarter financial results before the markets open on Wednesday. The consensus forecast calls for $0.45 in earnings per share (EPS) and $5.55 billion in revenue. In the same period of last year, the retailer said it had $0.70 in EPS and $5.57 billion in revenue.
During the most recent quarter, Macy’s announced a collaboration with Dick’s Sporting Goods and Scotts Miracle-Gro that will run through September. Macy’s is calling it “STORY” and hopes to bring the outdoors indoors.
STORY is a retail concept that changes every few months to bring a new narrative experience to life through curated merchandise and event programming.
In this case, STORY at Macy’s explores the theme through a mix of curated merchandise from more than 70 brands, dynamic store design and community-focused event programming, which ranges from indoor gardening workshops to outdoor activities such as kayaking on the Hudson River.
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Outdoor STORY will further support the Macy’s brand experience team’s “test and learn” approach via a variety of cross-merchandising strategies and event programming that showcases the community of each brand.
Excluding Tuesday’s move, Macy’s had underperformed the broad markets, with its stock down about 35% year to date. In the past 52 weeks, the stock was down closer to 52.5%.
A few analysts weighed in on Macy’s ahead of the results:
- UBS Group has a Hold rating with a $25 price target.
- Deutsche Bank has a Hold rating with a $28 price target.
- Goldman Sachs has a Neutral rating and a $21 target price.
- Standpoint Research has a Buy rating.
Shares of Macy’s traded up about 1% on Tuesday to $19.47, in a 52-week range of $18.86 to $41.99. The consensus price target is $23.00.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
