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Stock impact report

Macy's upgraded on same-store sales growth potential [MarketWatch]

Macy's Inc (M) 
Last macy's inc earnings: 2/25 06:55 am Check Earnings Report
US:NYSE Investor Relations: macysinc.com/ir
Company Research Source: MarketWatch
Macy's upgraded on same-store sales growth potential Macy's Inc. M, +1.91% shares rose 2.1% in Tuesday premarket trading after the department store retailer was upgraded to positive from neutral at Susquehanna Financial Group. Analysts led by Bill Dreher said the company's initiatives have created the potential for same-store sales growth that outpaces its guidance. Susquehanna raised its price target to $43 from $25. Macy's raised its outlook in its most recent earnings report, and now expects fiscal 2018 EPS of $3.75 to $3.95, excluding the anticipated settlement of charges tied to benefit plans and other charges. This is 20 cents higher than previous guidance and ahead of the $3.61 FactSet consensus. Same-store sales on an owned-plus-licensed basis are expected to be up 1% to 2%. The FactSet consensus is for 1.2% growth. "[F]or Macy's, fashion is selling very well right now, and it's been years since fashion has sold well," Susquehanna said. Tourism is also expected to turn into Show less Read more
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