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Macy's Invests $15 Million In China Online Retailer; To Get Section On Site

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05/23/2012 | 02:53pm CEST

Macy's Inc. (>> Macy's, Inc.) invested $15 million in the China online retail company VIPStore Co. and agreed to sell merchandise through VIPStore's luxury retail site, Omei.com.

Macy's now holds a minority stake in VIPStore, along with other venture capital providers, including Intel Corp.'s (>> Intel Corporation) Intel Capital.

The department-store operator expects to launch the Macy's section on Omei in spring 2013 with sales of I.N.C. women's and men's fashions. It plans to roll out other private brands in the following seasons.

Macys.com had launched online China sales in 2011 through a collaboration with FiftyOne, an international e-commerce provider.

Orders placed through Omei will be filled through that company's facilities in China, while orders placed on Macys.com will still be fulfilled through the U.S.

Macy's, which also operates the high-end Bloomingdale's chain, has been outperforming its mid-tier rivals Kohl's Corp. (>> Kohl's Corporation) and J.C. Penney Co. (JCP) with strategies like tailoring merchandise to local tastes and making in-store and online selling easier. The company reported earlier this month its fiscal first-quarter earnings rose 38% on increased same-store sales and flat overhead costs while sales rose 4.4%.

Shares closed Tuesday at $36.47 and were inactive premarket. The stock is up 13% so far this year.

-By Melodie Warner, Dow Jones Newswires; 212-416-2283; [email protected]

Stocks mentioned in the article : Macy's, Inc., Intel Corporation, Kohl's Corporation
Stocks mentioned in the article
ChangeLast1st jan.
INTEL CORPORATION 0.68% 51.45 Delayed Quote.10.70%
J C PENNEY COMPANY INC 3.44% 3.01 Delayed Quote.-7.91%
KOHL'S CORPORATION -0.67% 59.23 Delayed Quote.9.96%
MACY'S 0.13% 30.5 Delayed Quote.18.94%
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Financials ($)
Sales 2019 24 732 M
EBIT 2019 1 690 M
Net income 2019 1 119 M
Debt 2019 3 779 M
Yield 2019 5,04%
P/E ratio 2019 8,39
P/E ratio 2020 9,36
EV / Sales 2019 0,53x
EV / Sales 2020 0,51x
Capitalization 9 319 M
Chart MACY'S
Duration : Period :
Macy's Technical Analysis Chart | M | US55616P1049 | 4-Traders
Technical analysis trends MACY'S
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Average target price 29,7 $
Spread / Average Target -2,6%
EPS Revisions
Managers
NameTitle
Jeffrey Gennette Chairman & Chief Executive Officer
Harry A. Lawton President
Robert B. Harrison Chief Omnichannel & Operations Officer
Karen M. Hoguet Chief Financial Officer
Sara L. Levinson Independent Non-Employee Director
Sector and Competitors
1st jan.Capitalization (M$)
MACY'S18.94%9 319
S.A.C.I. FALABELLA--.--%24 395
KOHL'S CORPORATION9.96%10 032
CANADIAN TIRE CORPORATION LIMITED3.54%8 915
LOJAS AMERICANAS SA12.19%8 355
NORDSTROM1.63%8 079