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Tag: Macy’s

  • Macy’s (M) Stock Rose As Financials Improved

    Macy’s (M) Stock Rose As Financials Improved

    Macy’s, Inc. (NYSE: M) shares exhibited a notable ascent during Thursday’s regular trading session, marking a robust 5.71% increase to settle at $13.33. This positive momentum was spurred by the disclosure of Macy’s quarterly financial performance, which surpassed expectations.

    In its report for the third quarter of 2023, Macy’s (M) revealed financial results that exceeded both top and bottom-line projections. Despite a 7% decrease in net sales, which amounted to $5 billion compared to the third quarter of 2022, Macy’s showcased resilience by diversifying its offerings.

    Notably, the company recently broadened its array of Disney products across diverse categories, enhancing the festive spirit for all age groups this Holiday season. From exquisite jewelry to home decor and toys, Macy’s now features an exclusive collection to commemorate Disney’s 100th Anniversary, available for purchase at Macy’s stores nationwide, online, and through its mobile app.

    An additional highlight is Macy’s introduction of a Disney Princess collection, encompassing role-play costumes, accessories, character dolls, jewelry, apparel, and toys. The Macy’s Herald Square flagship store stands as the sole location outside of Disney Parks in North America to host a captivating Disney Princess augmented reality experience.

    At the Disney Princess section, customers of all ages can step into the enchanting realm of a “magic” mirror, allowing them to virtually don the dresses of their beloved Disney Princess characters. Macy’s commitment to enriching the customer experience extends beyond physical stores to the online realm, as it brings the magic of Disney Princesses to life during the Holiday Season.

    By featuring exclusive Disney products, Macy’s endeavors to instill the sense of wonder associated with its iconic brands and aims to captivate a new generation of enthusiasts with the allure of Disney at Macy’s. In a harmonious convergence of visions, both Disney and Macy’s share a common objective of providing consumers with magical moments through high-quality products.

    The enchanting Disney Princess showcase at Macy’s Herald Square is poised to inspire visitors, encouraging them to immerse themselves in an unforgettable retail experience that transcends conventional boundaries.

  • Macy’s, Inc. (M) gained in the current market; here is why?

    Macy’s, Inc. (M) in the current market after announcing its fourth quarter and fiscal 2021 results. M values at $26.08, gaining more than 1.48% compared to yesterday’s closing price. The stock closed at $25.69 at the end of the last trading session. The stock volume traded in the last trading session was around 12.65 million shares. The current market cap of the company is around $7.69 billion.

    Macy’s: Key Financials

    • Macy’s, Inc. (M) revenue in Q4 2021 was $8.6 billion. The revenue of Q4 in 2020 was around $6.7 billion.
    • Fiscal year revenue was $24.4 billion. The revenue in fiscal 2020 was approximately $17.3 billion.
    • The company’s net income in Q4 2021 was around $742 million. The net income is more than four times compared to $160 million in Q4 2020.
    • Macy’s net income in fiscal 2021 was around $1.4 billion, more than compared to the net loss of $3.9 billion in fiscal 2020.
    • The Q4 2021 Diluted earnings per share were $2.44, comparatively more than the EPS of $0.5 in Q4 2020.
    • For fiscal 2021, Diluted earnings per share were $4.55, compared to the loss per share of $12.68 in fiscal 2020.

    Macy’s CEO Remarks

    Our fourth-quarter results capped off a terrific year, said Macy’s CEO Jeff Gennette. Despite COVID-19, supply chain issues, staffing constraints, and escalating pricing, the firm surpassed forecasts in 2021. Our organization is expanding and serving more clientele.

    Following the Polaris, the method has paid off after two years of hard work. He claimed our firm is more robust, agile, and profitable. We believe our digital focus has better positioned us for long-term profitable growth.

    2022 Outlook

    Polaris’s efforts and robust customer demand are expected to help Macy’s, Inc. achieve positive growth in 2022. Inflation, supply chain difficulties, workforce shortages, and possible COVID-19 variants are all expected macro-environment issues for the firm shortly. A calculated strategy based on these assumptions is reflected in the company’s yearly outlook. The company expects Net sales between $24,460 million and $24,700 million.

    Conclusion

    Macy’s, Inc. (M) has surpassed all its expected forecasts and is excited to announce its fiscal year performance. The company’s revenue significantly increased in the fourth quarter of 2021. The success of Polaris has proved its significance and value in the company’s growth.

  • Macy’s, Inc. (M) stock gained in the Current Market. Here is why?

    Macy’s, Inc. (M) stock gained in the Current Market. Here is why?

    Macy’s, Inc. (M) gained stock in the current market after Kohl’s department store received a bid offer. The stock of Macy’s, Inc. (M) values at $25, gaining more than 9% from the previously closed value. At the end of the last trading session, the stock closed at $22.94. The stock volume traded in the previous trading session was around 15.13 million shares.

    Reasons for the Macy’s stock gain

    The Wall Street Journal reported that activist hedge fund Starboard Value LP had made a $9 billion takeover approach for Kohl’s Corp. The stock of Macy’s, Inc. (M) also gained value following the news. Macy’s has been urged to split its e-commerce and retail operations. Changing consumer buying habits have put stress on department retailers long before COVID-19. The company will announce fourth-quarter earnings on February 22. 

    According to business insider, a group led by activist hedge fund Starboard Value LP has made a $9 billion bid for Kohl’s Corp. On Friday, Acacia Research Corp. (ACTG) led the company offered $64 per share in cash. Kohl’s price was $46.84 in the previous closing session. The bid is 37% higher. They said it assured the corporation it had made sure from bankers that it could fund the offer.

    There is no certainty that the consortium will raise all necessary funds and make a definite offer or that Kohl’s will accept it. 

    The effect on the stock

    As soon as the news of Kohl’s receiving a bid-offer spread in the market, the stock of Macy’s and other stores rose in the market as well. Nine billion dollars is a massive valuation, and investors are now interested in different retail stores shares, hoping they would acquire them by massive institutions in the future.

    Conclusion

    The stock of Macy’s, Inc. (M) gained significantly. The financial analysts at market beat also rates hold on the stock hoping it would value between $29 to $35 soon.