Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Macy's Inc    M

Delayed Quote. Delayed  - 10/26 10:01:49 pm
35.95 USD   +0.06%
10/26 MACY : Aventura Mall will shut down Thanksgiving Day. But one store ..
10/26 MACY : to open a bit earlier Thanksgiving Day
10/26 IBM GM : Cognitive computing 'secret weapon' in transforming experie..
News SummaryMost relevantAll newsSector news 

April Same-Store Sales Show Softness By Large Retailers

share with twitter share with LinkedIn share with facebook
share via e-mail
05/03/2012 | 03:37pm CEST

--Macy's, Target and Saks all disappoint

--Limited, Nordstrom are standouts

--Reports raise concerns about consumer spending

(Updates throughout with sales reports from more retailers

   By Karen Talley 

Big retailers delivered disappointing sales for April, with Macy's Inc. (>> Macy's, Inc.), Target Corp. (>> Target Corporation) and Saks Inc. (>> Saks Inc) all falling short of expectations that were set low to compensate for a lack of Easter buying as the holiday fell early this year.

The early Easter set up a powerful showing in March that largely didn't extend into April. Last month was also hit by colder weather in its latter half and gasoline prices that ratcheted higher.

Retailers were also up against some big numbers from a year ago because Easter fell much later in April. Still, "We knew Easter would produce a strong March, and that was built into analysts' expectations for April," said Barbara Kahn, professor of marketing at the University of Pennsylvania's Wharton School. "The fact that April's numbers have softness shows this is a rocky economic recovery and people are still a bit cautious."

Still, one month doesn't make a trend, and it will take later into the year to see just how cautious consumers are.

Macy's Inc. (>> Macy's, Inc.) reported a 1.2% rise in same-store sales when 1.9% was expected. The department store chain, which has a recent track record of outdistancing projections, blamed the earlier Easter, the shift of a cosmetics sale into March from April, and Mother's Day falling later in May this year.

Target reported same-store sales rose 1.1% when 2.8% was expected. Chief Executive Gregg Steinhafel nonetheless said Target's "underlying sales trend remains quite healthy."

Costco's U.S. same-store sales excluding fuel rose 4%, when analysts were expecting 4.9%, the second month in a row the mass merchant missed projections. "While a slowing contribution from (customer) traffic growth has been more than offset by average transaction increases over the past year or so, that appears to have reversed this quarter," said Robert Carroll, retail analyst at UBS.

Gap Inc. (>> The Gap Inc.) reported same-store sales fell 2%, when a 0.8% decline was expected. Despite the miss, Chief Executive Glenn Murphy said spring merchandise "continued to do well across all brands."

April same-store sales rose 2.2% for the 18 retailers that report figures, according to analysts polled by Thomson Reuters. The 2.2% compares with 11.1% a year ago when Easter fell on April 24 and is beneath the range that retailers have been reporting so far this year. For March and April combined, to show the shift of the Easter holiday to early April this year, retailers reported a 4.5% gain. The growth is down from a 6.4% rise over the same two months last year.

There were some standouts. Nordstrom Inc. (>> Nordstrom, Inc.) reported a rise of 7.1% when 5.8% was projected. But fellow high-end retailer Saks Inc. (>> Saks Inc) posted a 2% rise in same-store sales, when 4% was expected. Saks said it was hurt by excluding cosmetics and fragrances from a large sale it holds in April.

Limited Brands Inc. (>> Limited Brands, Inc.), operator of Victoria's Secret and Bath & Body Works, narrowed first-quarter guidance to the high end of its projection after issuing April same-store sales that beat expectations, coming in with a 6% gain, when a 4% rise was predicted.

Off-price retailer TJX Cos. (>> The TJX Companies, Inc.) posted a 6% rise in comparable-store sales, when 4% was expected, and lifted its first-quarter and full-year earnings view, citing significant increases in customer traffic.

Among teen retailers, Zumiez Inc. (ZUMZ) reported a 10.1% rise in same-store sales when 6.8% was expected. The gain came on top of 17.5% growth in April a year ago.

Wet Seal Inc. (>> The Wet Seal, Inc.) posted a 9.6% drop in comparable-store sales when a 9% decline was expected. And Buckle Inc. (BKE) same-store sales gained 1%, when a 0.9 rise was projected.

Stage Stores Inc. (>> Stage Stores, Inc.) posted a 1% drop in same-store sales when analyst were looking for a 4.8% decline. The department store chain said it saw comparable-store sales increases in its cosmetics, home and gifts, junior's, misses sportswear and petites categories during the month.

Geographically, the Mid Atlantic, Midwest, Northeast, South Central and Southwest regions all had comparable store sales gains.

"We expected April to be challenging given the negative impact of the Easter calendar shift and the timing shift of our Mother's Day event to May this year from April last year," Stage Stores Chief Executive Michael Glazer said. "However, April results were better than anticipated and, as a result, we exceeded our comparable store sales expectations for the quarter."

-By Karen Talley, Dow Jones Newswires; 212-416-2196; karen.talley@dowjones.com

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on MACY'S INC
10/26 MACY : Aventura Mall will shut down Thanksgiving Day. But one store inside will ..
10/26 MACY : to open a bit earlier Thanksgiving Day
10/26 IBM GM : Cognitive computing 'secret weapon' in transforming experience
10/26 MACY : Developer considers entertainment complex in former Macy's site
10/25 CORRECTION : Most of Beaver Valley Mall to close on Thanksgiving
10/25 MACY : Hanley Investment Group Lists Rare Five-Acre Fee-Simple Ground Lease on S..
10/25 MACY : South Bay, Peninsula voters tackle thorny ballot measures
10/25 MACY : Courtyard by Marriott Times Square West Welcomes Guests to Shop and Stay ..
10/25 THE MOTHER OF ALL LISTS : All of Donald Trump's Twitter targets, in span of two ..
10/25 MACY : Why worry about President Duterte's profanity?
More news
Sector news : Retail - Department Stores
11:23a Debenhams ekes out minimal growth, quiet on future plans
10/26DJVMware Sales Paced by Services Segment
10/26 FTSE hits three-week low; commodities weigh
10/26DJREVIEW : Amazon's Alexa Makes Fire Tablets More Useful
10/25DJWESFARMERS : Says Coles Sales Dropped 0.3% On Year in First Quarter
More sector news : Retail - Department Stores
News from SeekingAlpha
10/24 Cheap Stocks Vs. Value Traps - Update And Watchlist
10/17 Amazon - Next Stop $100 Or $1000?
10/17 Macy's expected to open stores on Thanksgiving
10/14 Winners and losers from the retail sales report
10/13 Macy's Dividend Safety Discounted
Financials ($)
Sales 2017 25 936 M
EBIT 2017 1 997 M
Net income 2017 998 M
Debt 2017 6 121 M
Yield 2017 4,22%
P/E ratio 2017 12,25
P/E ratio 2018 10,40
EV / Sales 2017 0,66x
EV / Sales 2018 0,69x
Capitalization 11 089 M
More Financials
Duration : Period :
Macy's Inc Technical Analysis Chart | M | US55616P1049 | 4-Traders
Full-screen chart
Technical analysis trends MACY'S INC
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus HOLD
Number of Analysts 23
Average target price 41,7 $
Spread / Average Target 16%
Consensus details
EPS Revisions
More Estimates Revisions
Terry J. Lundgren Chairman & Chief Executive Officer
Jeffrey Gennette President & Director
Karen M. Hoguet Chief Financial Officer
Sara L. Levinson Independent Non-Employee Director
Craig E. Weatherup Independent Non-Employee Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
MACY'S INC2.77%11 089
S.A.C.I. FALABELLA--.--%19 366
NORDSTROM, INC.8.47%9 371
More Results