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Macy's (M) Soars on Earnings Beat & Strong Guidance
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Macy’s Inc. (M - Free Report) just released its latest quarterly financial results, posting adjusted earnings of $2.82 per share and revenues of $8.67 billion.
Currently, M is a Zacks Rank #2 (Buy), but that could change based on today’s results. The stock is currently up 11.37% to $30.55 per share in early morning trading shortly after its earnings report was released.
Macy’s:
Beat earnings estimates. The company posted adjusted earnings of $2.82 per share, beating the Zacks Consensus Estimate of $2.69.
Missed revenue estimates. The company saw revenue figures of $8.67 billion, missing our consensus estimate of $8.72 billion.
Total revenues climbed 1.8% from the year-ago period. Same-store sales increased 1.3%.
“We were disciplined with our promotional cadence and maintained a good inventory position,” said Jeff Gennette. “We head into 2018 with an improved base business, healthy inventories, a focused and engaged organization and a clear path to return Macy's to growth.”
Gennette would later tell CNBCthat same-store sales were up about 3% in the month of January.
Looking ahead, Macy’s expects fiscal 2018 earnings to fall in the range of $3.55 to $3.75 per share. Our Zacks Consensus Estimate heading into the report called for full-year earnings of $2.89 per share. Macy’s also expects comps to be flat to up 1% on the year.
Here’s a graph that looks at Macy’s recent earnings performance:
Macy's is one of the nation's premier retailers, operating about 885 stores in 45 states, the District of Columbia, Guam and Puerto Rico, under the names of Macy's, Bloomingdale's, Bloomingdale's Outlet and Bluemercury, as well as the macys.com, bloomingdales.com and bluemercury.com websites.
Check back later for our full analysis on M’s earnings report!
Want more market analysis from this author? Make sure to follow @Ryan_McQueeneyon Twitter!
Zacks Top 10 Stocks for 2018
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Macy's (M) Soars on Earnings Beat & Strong Guidance
Macy’s Inc. (M - Free Report) just released its latest quarterly financial results, posting adjusted earnings of $2.82 per share and revenues of $8.67 billion.
Currently, M is a Zacks Rank #2 (Buy), but that could change based on today’s results. The stock is currently up 11.37% to $30.55 per share in early morning trading shortly after its earnings report was released.
Macy’s:
Beat earnings estimates. The company posted adjusted earnings of $2.82 per share, beating the Zacks Consensus Estimate of $2.69.
Missed revenue estimates. The company saw revenue figures of $8.67 billion, missing our consensus estimate of $8.72 billion.
Total revenues climbed 1.8% from the year-ago period. Same-store sales increased 1.3%.
“We were disciplined with our promotional cadence and maintained a good inventory position,” said Jeff Gennette. “We head into 2018 with an improved base business, healthy inventories, a focused and engaged organization and a clear path to return Macy's to growth.”
Gennette would later tell CNBC that same-store sales were up about 3% in the month of January.
Looking ahead, Macy’s expects fiscal 2018 earnings to fall in the range of $3.55 to $3.75 per share. Our Zacks Consensus Estimate heading into the report called for full-year earnings of $2.89 per share. Macy’s also expects comps to be flat to up 1% on the year.
Here’s a graph that looks at Macy’s recent earnings performance:
Macy's Inc Price, Consensus and EPS Surprise
Macy's Inc Price, Consensus and EPS Surprise | Macy's Inc Quote
Macy's is one of the nation's premier retailers, operating about 885 stores in 45 states, the District of Columbia, Guam and Puerto Rico, under the names of Macy's, Bloomingdale's, Bloomingdale's Outlet and Bluemercury, as well as the macys.com, bloomingdales.com and bluemercury.com websites.
Check back later for our full analysis on M’s earnings report!
Want more market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
Zacks Top 10 Stocks for 2018
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2018?
Last year's 2017 Zacks Top 10 Stocks portfolio produced double-digit winners, including FMC Corp. and VMware which racked up stellar gains of +67.9% and +61%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2018 today >>