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Macy's Inc (M)

M on New York Consolidated

21.53USD
22 Sep 2017
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$0.37 (+1.75%)
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Latest Key Developments (Source: Significant Developments)

Macy’s Inc expands same-day delivery service to cover 33 markets
Thursday, 31 Aug 2017 06:00am EDT 

Aug 31 (Reuters) - Macy's Inc :Macy’s Inc expands same-day delivery service to cover 33 markets.Macy's Inc - ‍expansion of its same-day delivery of products purchased online at macys.com, bloomingdales.com and both brands' mobile apps​.  Full Article

Macy's names Hal Lawton president
Monday, 21 Aug 2017 04:55pm EDT 

Aug 21 (Reuters) - Macy's Inc :Hal Lawton named President of Macy’s.Macy's Inc - ‍Restructuring includes consolidation of three functions - Merchandising, Planning and private brands​.‍Company also announced restructuring of its merchandising operations​.Macy's Inc says company anticipates it will save approximately $30 million on an annual basis from restructuring.Macy's Inc says anticipates one-time costs of approximately $20 - $25 million associated with restructuring, to be booked primarily in Q3 of 2017.‍Company expects that the restructuring actions will result in a headcount reduction of approximately 100​.Macy's-Consolidation of 3 functions into one merchandising function to be led by Jeff Kantor, organized around 5 'Families-of-business'​.Macy's- Sees savings due to restructuring of about $5 million or about 1 cent/share in Q4 2017, which is additive to previously provided earnings guidance​.Macy's Inc - ‍ Lawton was most recently senior vice president, eBay North America​.  Full Article

Macy's Q2 same store sales fell 2.8 percent
Thursday, 10 Aug 2017 08:00am EDT 

Aug 10 (Reuters) - Macy's Inc ::Macy's Inc reports second quarter earnings and reaffirms full-year guidance.Q2 earnings per share $0.48 excluding items.Q2 sales $5.552 billion versus I/B/E/S view $5.52 billion.Q2 same store sales fell 2.8 percent.Q2 earnings per share view $0.46 -- Thomson Reuters I/B/E/S.Q2 earnings per share $0.38.‍reaffirmed its sales and earnings guidance for full-year 2017​.MACY'S INC - ‍comparable sales on an owned basis were down 2.8 percent in Q2 and down 2.5 percent on an owned plus licensed basis​.‍"Will adapt our business in order to reach our goal of stabilizing brick-and-mortar business​".Macy's - ‍launch of a new loyalty program and new marketing strategy in fall, which co anticipates will further improve sales trend in back half of year​.FY earnings per share view $3.29, revenue view $24.67 billion -- Thomson Reuters I/B/E/S.Macy's - ‍will "adapt" business to reach goal of stabilizing brick-and-mortar business while "investing for accelerated growth in digital and mobile"​.  Full Article

Macy's CFO warns gross margin could be below forecast given in February, 60-80 basis points below last year - CNBC reporter tweet
Tuesday, 6 Jun 2017 10:42am EDT 

June 6 (Reuters) - :Macy's CFO warns gross margin could be below forecast given in february, 60-80 basis points below last year - CNBC reporter tweet.Macy's CFO says the company is still comfortable (ie not changing) the sales and profit guidance given in February - CNBC reporter tweet.  Full Article

Macy's CFO - Expect improvement in trend to start in Q2
Thursday, 11 May 2017 11:34am EDT 

May 11 (Reuters) - Macy's Inc :CFO on conf call- international tourists sales declined at about the same rate as Q1 comp sales.CFO - weaker businesses in Q1 included handbags, fashion jewelry and watches, housewares.CFO - have 26 backstage stores open within macy's stores and are adding 19 more this year.CFO - Q1 gross margin decline was due to ending 2016 with inventory higher than anticipated, weak february sales and margin pressures in a few businesses.CFO - gross margin declines in beauty business due to increased promotional activity.CFO - making good progress in selling off properties that were previously closed.CFO - there is a dedicated Brookfield team working with our team on feasibility analysis and redevelopment activities related to about 50 real estate assets.CFO - had expected Q1 to be weakest quarter of year, benefits from closed stores were not expected to help until going-out-of-business sales were completed until late march.CFO - expect improvement in trend to start in q2.CFO - adding or expanding furniture and mattresses in approximately 60 stores.CFO - "we've concluded that our current model is too heavily weighted to promotional marketing".CFO - strategizing to improve our 'buy online pickup in store' experience.CEO- working on bringing additional traffic into stores in close partnership with our mall developers.  Full Article

Macy's reports Q1 adjusted earnings per share $0.24
Thursday, 11 May 2017 08:00am EDT 

May 11 (Reuters) - Macy's Inc -:Macy’s Inc reports first quarter earnings.Q1 earnings per share $0.24 excluding items.Q1 sales $5.338 billion versus i/b/e/s view $5.47 billion.Q1 earnings per share view $0.35 -- Thomson Reuters I/B/E/S.Q1 same store sales fell 5.2 percent.Macy's Inc - remain on track to meet our 2017 guidance.Macy's Inc - macy's, inc. Affirms its previously provided guidance for full-year 2017.Macy's Inc - comparable sales on an owned basis were down 5.2 percent in q1 and down 4.6 percent on an owned plus licensed basis.Macy's Inc - Macy's Inc board of directors has declared a regular quarterly dividend of 37.75 cents per share on macy's common stock.Macy's Inc - is also under contract to sell two additional floors of its downtown seattle store after having sold floors five through eight in 2015.Macy's Inc - "in 2017, we are focused on taking actions to stabilize our brick and mortar business".Fy2017 revenue view $25.89 billion -- Thomson Reuters I/B/E/S.Fy2017 earnings per share view $3.05 -- Thomson Reuters I/B/E/S.Macy's Inc - "we will invest to aggressively grow our digital and mobile business".  Full Article

Macy’s, Tailored Brands to wind down partnership on Tuxedo shops
Wednesday, 3 May 2017 04:15pm EDT 

May 3 (Reuters) - Macy's Inc :Macy's Inc- company , Tailored Brands announced their joint plan to wind down operations under Tuxedo rental license agreement.Macy’s, Inc. and Tailored Brands to wind down partnership.Macy's Inc - Tuxedo shops at Macy's will continue to take new reservations until June 1, 2017, with operations winding down by July 14, 2017.  Full Article

Macy's and G-III sign exclusive agreement for DKNY women's apparel and accessories
Monday, 27 Mar 2017 04:00am EDT 

Macy's Inc : Macy's and G-III sign exclusive agreement for DKNY Women's apparel and accessories . under agreement, Macy's will covers DKNY Women's apparel, handbags and shoes, in addition to women's and men's outerwear and swimwear .G-III will continue to operate freestanding global DKNY stores and DKNY.com.  Full Article

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

BRIEF-Sprezzabox announces partnership with Macy's for holiday season

* Announced partnership today with Macy's to make individual Sprezzaboxes available in all Macy's locations for holiday season Source text for Eikon: Further company coverage: