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Macy's Inc (M.N)

M.N on New York Stock Exchange

28.17USD
24 Mar 2017
Change (% chg)

$-0.10 (-0.35%)
Prev Close
$28.27
Open
$28.02
Day's High
$28.31
Day's Low
$27.82
Volume
1,395,023
Avg. Vol
1,933,929
52-wk High
$45.39
52-wk Low
$27.82

Latest Key Developments (Source: Significant Developments)

Macy's board elects Jeff Gennette chief executive officer
Thursday, 23 Mar 2017 04:32pm EDT 

Macy's Inc - : Macy's, Inc. board of directors elects Jeff Gennette chief executive officer .Gennette succeeds Terry J. Lundgren, who will continue as executive chairman.  Full Article

Hudson's Bay turns focus away from Macy's to Neiman Marcus, in talks to buy Neiman - CNBC
Tuesday, 14 Mar 2017 10:46am EDT 

Hudson's Bay Co : Hudson's Bay turns focus away from Macy's to Neiman Marcus and is in talks to buy Neiman in deal excluding debt - CNBC, citing DJ ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Tailored Brands reports Q4 loss per share of $0.62
Wednesday, 8 Mar 2017 04:15pm EST 

Tailored Brands Inc : Reports fiscal 2016 fourth quarter and full year results . Q4 GAAP loss per share $0.62 . Q4 earnings per share view $-0.12 -- Thomson Reuters I/B/E/S . Sees FY 2017 earnings per share $1.45 to $1.75 . Q4 adjusted loss per share $0.19 . 2017 outlook includes an estimated operating loss of between $19 million and $20 million from Macy's Tuxedo business . During 2016, Macy's Tuxedo business did not ramp as expected . Outlook for 2017 also assumes decline in our corporate apparel business . "In addition, our outlook includes an estimated operating loss of between $19 million and $20 million from Macy's Tuxedo business" for 2017 . Actively engaged in discussions with Macy's to restructure agreement . In 2017, plan to invest approximately $90 million in capital expenditures and to use free cash flow to pay down debt . Recorded an asset impairment charge of $14 million in Q4 related to fixed assets in Macy's stores . "Due to early stages of our negotiations, our current 2017 plan assumes no further Macy's store expansion" . Company expects approximately net 10 store closures in fiscal 2017 . Expects comparable sales in fiscal 2017 for men's wearhouse to be down low-single digits .Expects comparable sales in fiscal 2017 for Jos. A. Bank to increase mid-single digits, moores and K&G to be down mid-single digits.  Full Article

Macy's sets regular quarterly dividend of $0.3775per share
Friday, 24 Feb 2017 11:55am EST 

Macy's Inc :Sets regular quarterly dividend of $0.3775per share.  Full Article

S&P downgrades Macy's Inc credit rating to 'BBB-'
Wednesday, 22 Feb 2017 03:10pm EST 

S&P:Macy's Inc downgraded to 'BBB-' on weakened operating performance and credit metrics; outlook negative.  Full Article

Macy's CEO on conf call- Anticipate the challenging environment in 2016 to continue
Tuesday, 21 Feb 2017 11:23am EST 

Macy's Inc : CEO on conf call- "physical stores will play an exceedingly important role in the future of shopping for us and others" . CEO on conf call- anticipate the challenging environment in 2016 to continue . CFO- Q4 online sales grew at double digit growth . CEO - "plan to work closely with our real estate team and expect to get a lot done in 2017" . CFO- working on a strategy to transform our beauty business . Not assuming we'll buy back any stock in 2017 in our forecast . CFO on conf call- "are aware of recent headlines, will not be answering any questions regarding rumors or speculation" . CEO- "think there's enough customers in the mall, it's just a matter of where they are shopping" . Backstage within stores making stores more productive, still working on refining the format Further company coverage: [M.N] ((bangalore.newsroom@thomsonreuters.com;)).  Full Article

Macy's posts Q4 adjusted earnings per share $2.02
Tuesday, 21 Feb 2017 08:00am EST 

Macy's Inc : Macy's Inc reports fourth quarter and fy2016 results . Q4 earnings per share $1.54 . Q4 sales $8.515 billion versus I/B/E/S view $8.62 billion . Q4 same store sales fell 2.7 percent . Q4 earnings per share view $1.96 -- Thomson Reuters I/B/E/S . Q4 adjusted earnings per share $2.02 excluding items . Macy's Inc- on an owned basis, Q4 comparable sales declined by 2.7 percent . Macy's Inc- comparable sales on an owned plus licensed basis for Q4 were down 2.1 percent . Macy's Inc- capital expenditures for 2017 are expected to be approximately $900 million . Macy's Inc- in fiscal 2017, company expects comparable sales on an owned basis to decline between 2.2 percent and 3.3 percent . Macy's Inc- total sales are expected to be down between 3.2 percent and 4.3 percent in fiscal 2017 . Macy's Inc- adjusted diluted earnings per share of between $3.37 and $3.62 are expected in 2017 .FY earnings per share view $3.20 -- Thomson Reuters I/B/E/S.  Full Article

Hudson's Bay makes takeover approach to Macys - CNBC, citing DJ
Friday, 3 Feb 2017 10:10am EST 

: Hudson's Bay makes takeover approach to Macys - CNBC, citing DJ ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

The Howard Hughes Corp purchases Macy's store at Landmark Mall
Monday, 9 Jan 2017 07:00am EST 

Howard Hughes Corp : The howard hughes corporation purchases Macy's store at Landmark Mall .Has acquired 11.4 acre Macy's store and Parking Field at Landmark Mall in Alexandria, VA.  Full Article

Jana Partners dissolves stake in Ferrari, Macy's
Monday, 14 Nov 2016 08:27am EST 

Jana Partners Llc: Jana Partners Llc dissolves common share stake in Ferrari NV - SEC Filing . Jana Partners Llc dissolves share stake in Macys Inc - SEC Filing .Jana Partners Llc change in holdings are as of September 30, 2016 and compared with the previous quarter ended as of June 30, 2016.  Full Article

More From Around the Web

BRIEF-Macy's CEO Gennette's annual base salary will be $1.25 mln - SEC filing

* Macy's Inc - CEO Gennette's annual base salary will be $1.25 million - SEC filing Source text for Eikon: Further company coverage: