16.60 -0.04 (-0.24%)
After hours: 7:56PM EST
|Bid||16.62 x 4000|
|Ask||16.64 x 800|
|Day's range||16.17 - 16.66|
|52-week range||14.11 - 26.33|
|Beta (5Y monthly)||0.67|
|PE ratio (TTM)||5.37|
|Forward dividend & yield||1.51 (9.27%)|
|1y target est||16.19|
Strong digital business and impressive performance at Growth150 stores are likely to have contributed to Macy's (M) holiday sales results, which coincides with the fourth quarter.
Macy’s credit rating was cut to junk status at S&P Global Ratings, two weeks after it unveiled a $1.5bn cost-cutting plan amid pressure to adapt to declining mall traffic and consumers’ growing appetite for online shopping. S&P on Tuesday lowered its rating for Macy’s to BB+ — one notch below investment grade — from BBB-, saying it viewed Macy’s turnround plan as necessary but also a sign that the department-store chain’s “competitive advantage has diminished more than we expected”. Like its brick-and-mortar peers, Macy’s has grappled with changing consumer habits as more people choose to spend money online rather than shop in traditional stores — a trend that has led to the closure of thousands of retail outlets across the US.
Macy’s Star Rewards now makes it even easier for customers to earn rewards. The new loyalty program now allows every Star Rewards member to earn on every purchase, regardless of how they pay. Plus, customers can enjoy spending rewards on all their favorite products, including top brands. Rewards cannot be earned on or redeemed for gift cards, services or fees.
The Zacks Analyst Blog Highlights: Macy's, Rite Aid, Big Lots, Ross Stores and TravelCenters of America
Macy's said it would close stores in "lower tier" malls, and explore new off-mall formats, as it looks to tackle plummeting mall traffic in the United States. "We will focus our resources on the healthy parts of our business, directly address the unhealthy parts of the business and explore new revenue streams," Chief Executive Officer Jeff Gennette said in a statement.
Macy's has outlined plans under its three-year Polaris Strategy to adapt better to the new retail ecosystem. Management is taking every step to increase sales, profitability and cash flows.
Macy's to close 125 stores and axe 2,000 jobs as retail landscape shifts. Department store chain plans to leave weaker shopping malls and focus on smaller stores in strip malls
Macy’s, Inc. (NYSE: M) today announced an updated strategy and three-year plan designed to stabilize profitability and position the company for growth.
Impacts of soft SBS unit and higher SG&A costs are likely to get reflected in Sally Beauty's (SBH) first-quarter fiscal 2020 results. Nevertheless, the Transformation Plan and supply-chain efforts bode well.
This February, Macy’s will celebrate Black History Month by embracing and expressing the diversity of Black people and culture. Luminaries such as influencer Monica Veloz, Oscar® nominee Matthew Cherry, comedian Phoebe Robinson, activist Marley Dias, NFL Hall of Famer Jerry Rice, and celebrity hair stylist Kim Kimble will headline events throughout the month.
Ulta Beauty (ULTA) has been focusing on omnichannel growth, loyalty programs and efforts to boost offerings. However, high SG&A costs and soft makeup trends in the U.S. beauty market are concerning.
Helen of Troy (HELE) completes the acquisition of Drybar Products LLC for roughly $255 million. This is likely to strengthen its Beauty business.