Macy's raises full-year forecast, investors lock gains [Reuters]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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Source: Reuters
Macy's raises full-year forecast, investors lock gains | Reuters 3 Min Read (Reuters) - Macy’s Inc ( M.N ) on Wednesday reported a surprise rise in quarterly same-store sales and raised its full-year forecasts, but its shares fell 9 percent with some analysts attributing the drop to profit taking following the stock’s run-up this year. Macy’s stock was down at $37.99 in morning trading, after having surged 66 percent this year - far outperforming the S&P; 500 retailing index .SPXRT. It has more than doubled since touching a seven-year low of $17.40 in November. “Macy’s shares may be selling off this morning as result of profit taking, despite healthy second-quarter beat and raised full-year guidance,” RBC Capital Market analyst Brian Tunick said. Research firm Retail Metrics analyst Ken Perkins echoed Tunick’s view, while adding that the stock could also be reacting to a small dip in margins. Perkins said based on his calculation Macy’s gross margins dipped 20 basis points in the qu
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M
Earnings
- 2/27/24 - Beat
M
Sec Filings
- 4/15/24 - Form ARS
- 4/15/24 - Form DEF
- 4/10/24 - Form 8-K
- M's page on the SEC website