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Macy's Inc (M.N)

M.N on New York Stock Exchange

26.26USD
16 Feb 2018
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Latest Key Developments (Source: Significant Developments)

Macy's Sees FY 2017 Adjusted Earnings Per Share $3.59 To $3.69 Excluding Items
Thursday, 4 Jan 2018 

Jan 4 (Reuters) - Macy's Inc ::SEES FY 2017 ADJUSTED EARNINGS PER SHARE $3.59 TO $3.69 EXCLUDING ITEMS.ANNUAL EARNINGS GUIDANCE RAISED DUE TO SOLID HOLIDAY RESULTS AND FEDERAL TAX LAW CHANGE.‍$300MM IN ANNUALIZED COST SAVINGS TO BE REINVESTED IN BUSINESS​.COMPARABLE SALES ON AN OWNED BASIS INCREASED 1.0 PERCENT IN MONTHS OF NOVEMBER AND DECEMBER 2017 COMBINED.ON AN OWNED PLUS LICENSED BASIS, COMPARABLE SALES INCREASED 1.1 PERCENT IN COMBINED NOVEMBER/DECEMBER PERIOD."TAKING ACTIONS INTENDED TO CONTINUE IMPROVEMENTS IN ORGANIZATIONAL EFFICIENCY AND TO ALLOCATE RESOURCES TO SUPPORT ITS GROWTH STRATEGY".‍MACY'S IS NARROWING RANGE OF ITS PREVIOUSLY PROVIDED FULL-YEAR SALES GUIDANCE​.RESTRUCTURING INCLUDES STAFFING ADJUSTMENTS IN STORES ORGANIZATION WITH REDUCTIONS IN SOME STORES, INCREASES IN OTHERS.‍NOW EXPECTS COMPARABLE SALES ON AN OWNED BASIS TO DECLINE BETWEEN 2.4 PERCENT AND 2.7 PERCENT FOR 2017​.RESTRUCTURING INCLUDES FURTHER STREAMLINING IN SOME NON-STORE FUNCTIONS.RESTRUCTURING INCLUDES CLOSURE OF 11 STORES IN EARLY 2018.SEES ‍COMPARABLE SALES ON AN OWNED PLUS LICENSED BASIS TO DECLINE BETWEEN 2.0 PERCENT AND 2.3 PERCENT FOR 2017​.‍TOTAL SALES ARE EXPECTED TO BE DOWN BETWEEN 3.6 PERCENT AND 3.9 PERCENT IN FISCAL 2017​.EXPECTS ANNUAL EXPENSE SAVINGS OF $300 MILLION FROM RESTRUCTURING ACTIONS BEGINNING IN FISCAL-YEAR 2018.SEES ONE-TIME CHARGES OF ABOUT $160 MILLION TO BE BOOKED IN Q4 FOR RESTRUCTURING ACTIVITIES, ASSET IMPAIRMENT, STORE CLOSINGS, OTHER COSTS.  Full Article

Macy's names Jill Ramsey Chief Product And Digital Revenue Officer
Wednesday, 20 Dec 2017 

Dec 19 (Reuters) - Macy's Inc ::JILL RAMSEY NAMED CHIEF PRODUCT AND DIGITAL REVENUE OFFICER OF MACY’S.MACY'S INC - ANNOUNCED APPOINTMENT OF JILL RAMSEY AS CHIEF PRODUCT AND DIGITAL REVENUE OFFICER, EFFECTIVE JAN. 8, 2018.MACY'S INC - MOST RECENTLY, RAMSEY WAS VICE PRESIDENT, GM OF VERTICAL BUSINESSES AT EBAY.  Full Article

Moody's Says Stable U.S. Retail Outlook In 2018, Reflective Of Higher Operating Income, Sales
Friday, 15 Dec 2017 

Dec 15 (Reuters) - Moody's::MOODY'S SAYS STABLE U.S. RETAIL OUTLOOK IN 2018, REFLECTIVE OF HIGHER OPERATING INCOME AND SALES.MOODY'S SAYS EXPECT LOSSES TO BEGIN TO TAPER FOR U.S. DEPARTMENT STORES, INCLUDING MACY'S, KOHL'S, AND NORDSTROM, IN 2018.  Full Article

Macy’s Announces Pricing Of Debt Tender Offer
Monday, 11 Dec 2017 

Dec 11 (Reuters) - Macy's Inc ::MACY’S, INC. ANNOUNCES PRICING OF DEBT TENDER OFFER.MACY'S INC - ‍PRICING TERMS OF TENDER OFFER OF CO'S UNIT TO PURCHASE UP TO $400 MILLION IN AGGREGATE PRINCIPAL AMOUNT OF OUTSTANDING DEBT SECURITIES.MACY'S INC - AS A RESULT OF THE TENDER OFFER, CO EXPECTS TO RECORD A ONE-TIME PRE-TAX GAIN OF ABOUT $13 MILLION IN FOURTH FISCAL QUARTER OF 2017.MACY'S INC - TENDER OFFER OF ITS UNIT IS SCHEDULED TO EXPIRE AT 11:59 P.M., NEW YORK CITY TIME, ON DEC. 22, 2017.MACY'S INC - ‍BY COMPLETING TENDER OFFER, MACY'S INTEREST EXPENSE IS ANTICIPATED TO BE REDUCED ON A FULL YEAR BASIS BY APPROXIMATELY $26 MILLION​.  Full Article

Macy's Executive Chairman Terry Lundgren To Retire
Saturday, 9 Dec 2017 

Dec 8 (Reuters) - Macy's Inc ::MACY’S EXECUTIVE CHAIRMAN TERRY LUNDGREN TO RETIRE.- JEFF GENNETTE APPOINTED CHAIRMAN.SAYS JEFF GENNETTE APPOINTED CHAIRMAN OF THE BOARD.- EXECUTIVE CHAIRMAN TERRY LUNDGREN WILL RETIRE FROM BOARD OF DIRECTORS EFFECTIVE JAN. 31, 2018.- MARNA WHITTINGTON REMAINS LEAD INDEPENDENT DIRECTOR.- FOLLOWING LUNDGREN'S RETIREMENT, BOARD WILL HAVE 10 DIRECTORS.  Full Article

Macy’s Inc Announces Debt Tender Offer
Tuesday, 28 Nov 2017 

Nov 27 (Reuters) - Macy's Inc ::MACY’S, INC. ANNOUNCES DEBT TENDER OFFER.MACY'S INC - UNIT COMMENCED A CASH TENDER OFFER TO PURCHASE UP TO $400 MILLION IN AGGREGATE PRINCIPAL AMOUNT OF ITS OUTSTANDING NOTES​.MACY'S INC - ‍TENDER OFFER WILL EXPIRE ON DECEMBER 22 UNLESS EXTENDED​.  Full Article

Macy's Inc Q3 EPS $0.23 excluding items
Thursday, 9 Nov 2017 

Nov 9 (Reuters) - Macy's Inc ::Macy's, Inc. reports third quarter 2017 earnings above prior year and re-affirms full-year guidance.Sees fy 2017 adjusted earnings per share $3.38 to $3.63 excluding items.Q3 earnings per share $0.23 excluding items.Q3 sales $5.281 billion versus I/B/E/S view $5.31 billion.Q3 same store sales fell 4 percent.Q3 earnings per share view $0.19 -- Thomson Reuters I/B/E/S.Macy's Inc - ‍comparable sales on an owned basis were down 4.0 percent in Q3 and down 3.6 percent on an owned plus licensed basis​.Macy's Inc says saw better gross margin performance in quarter primarily due to tightly controlled inventory position​.Macy's Inc - ‍"a highlight of Q3 was launch of new star rewards loyalty program"​.Macy's Inc - ‍"we expect continued improvement in our trends in q4, including a solid lift from loyalty and digital"​.Macy's Inc - ‍remain on track to meet our full-year sales and earnings guidance for 2017​.  Full Article

Samsung Experience to launch at Macy's Herald Square
Tuesday, 31 Oct 2017 

Oct 31 (Reuters) - Macy's Inc :Samsung Experience to launch at Macy’S Herald Square.Macy's Inc - ‍beginning Nov. 1, customers shopping at Macy's Herald Square will be able to explore and purchase a range of Samsung products​.  Full Article

MACY'S INC ‍DECLARES REGULAR QUARTERLY DIVIDEND OF 37.75 CENTS/SHARE
Friday, 27 Oct 2017 

Oct 27 (Reuters) - Macy's Inc ::BOARD ‍DECLARED REGULAR QUARTERLY DIVIDEND OF 37.75 CENTS PER SHARE ON MACY'S COMMON STOCK, PAYABLE JAN. 2, 2018​.  Full Article

Macy’s names Danielle kirgan as chief human resources officer
Tuesday, 17 Oct 2017 

Oct 17 (Reuters) - Macy's Inc :Danielle Kirgan named chief human resources officer of Macy's Inc.Macy's Inc - ‍ appointment of Danielle Kirgan as chief human resources officer, effective October 23, 2017​.  Full Article

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Kohl's outstrips peers in best holiday season in years

Kohl's Corp posted far stronger same-store sales for the holidays than its bigger peers, as a revamp of its business model and a strategy to have more stand-alone department stores rather than at struggling shopping malls paid off.