Macy's Reports Narrowed Quarterly Loss Amid Strength from Bloomingdales (M)
Do you know when to trade M ?
M | Quote | Chart | News | PowerRating -- 11/11/2009-Macy's (NYSE:M) reported a Q3 loss of 3 cents per share, ex-items, beating consensus estimates for a loss of 7 cents per share.
Revenues in the quarter fell 3.9% to $5.28 billion, but came in ahead of consensus estimates of $5.25 billion.
Meanwhile, the company said same-store sales fell 3.6%, but its online sales surged 21.1%.
Macy's said it expects full-year EPS of $1.01 - $1.06 (vs. consensus estimates of $1.11) and up from its previously estimated range of $0.70 - $0.80.
Macy's said it expects same-store sales to be down between 1% and 2% in the fourth quarter, which would translate to a decrease of 2.1% to 2.6% for the second half of the year.
Write to Chip Brian at cbrian@tradethetrend.com
---------------------------------------------------------------------------------------------
SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com.
Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.TradeTheTrend.com/signup.html
For full details on Macy's Inc (M) M. Macy's Inc (M) has Short Term PowerRatings at TradingMarkets. Details on Macy's Inc (M) Short Term PowerRatings is available at This Link.
- Floral Fantasy Takes Flight: Macy's Flower Show(R) "Spring Is In The Air" Takes Root Sunday, March 28 - Sunday, April 11, 2010 - 03/18/10
- NRF Names Matt Shay as President and CEO - 03/17/10
- Madonna and Iconix Brand Group's MG Icon Announces First Fashion Partnership With Macy's Inc. - 03/10/10
- Department store perks a thing of the past - 03/09/10
- Macy's Reports Same-Store Sales for February - 03/09/10
- More News >>
