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Last $59.05 USD
Change Today +0.33 / 0.56%
Volume 5.6M
M On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 08/27/15 All times are local (Market data is delayed by at least 15 minutes).

macy's inc (M) Snapshot

Open
$59.06
Previous Close
$58.72
Day High
$59.64
Day Low
$58.17
52 Week High
07/17/15 - $73.61
52 Week Low
10/13/14 - $54.84
Market Cap
19.9B
Average Volume 10 Days
5.9M
EPS TTM
$4.26
Shares Outstanding
336.4M
EX-Date
06/11/15
P/E TM
13.9x
Dividend
$1.44
Dividend Yield
2.20%
Current Stock Chart for MACY'S INC (M)

macy's inc (M) Details

Macy's, Inc., together with its subsidiaries, operates stores and Internet Websites in the United States. Its stores and Websites sell a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. The company also operates Bloomingdale’s Outlet stores that offer a range of apparel and accessories, including women's ready-to-wear, fashion accessories, jewelry, handbags, and intimate apparel, as well as men's, children's, and women's shoes. As of August 3, 2015, it operated approximately 885 stores under the Macy’s, Bloomingdale’s, Bloomingdale’s Outlet, and Bluemercury brand names in 45 states, the District of Columbia, Dubai, Guam, and Puerto Rico. In addition, it operates as a beauty products and spa retailer; and macys.com, bloomingdales.com, and bluemercury.com Websites. The company was formerly known as Federated Department Stores, Inc. and changed its name to Macy’s, Inc. in June 2007. Macy’s, Inc. was founded in 1830 and is headquartered in Cincinnati, Ohio.

166,900 Employees
Last Reported Date: 04/1/15
Founded in 1830

macy's inc (M) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $1.6M
President
Total Annual Compensation: $937.5K
Chief Financial Officer
Total Annual Compensation: $895.8K
Chief for International Business Development
Total Annual Compensation: $857.5K
Chief Innovation and Business Development Off...
Total Annual Compensation: $895.8K
Compensation as of Fiscal Year 2014.

macy's inc (M) Key Developments

Macy's, Inc. Announces Unaudited Consolidated Earnings Results for the Thirteen Weeks and Twenty Six Weeks Ended August 1, 2015; Provides Earnings Guidance for the Full Year of 2015

Macy's, Inc. announced unaudited consolidated earnings results for the thirteen weeks and twenty six weeks ended August 1, 2015. For the thirteen weeks, the company reported net sales of $6,104 million compared to $6,267 million a year ago. Operating income was $436 million compared to $571 million a year ago. Income before income taxes was $343 million compared to $471 million a year ago. Net income was $217 million or $0.64 per diluted share compared to $292 million or $0.80 per diluted share a year ago. The company is reporting a 26% drop in profit and a sales shortfall after it was hobbled by weak tourist spending and West Coast port delays in the second quarter. For the twenty six weeks, the company reported net sales of $12,336 million compared to $12,546 million a year ago. Operating income was $845 million compared to $1,014 million a year ago. Income before income taxes was $657 million compared to $814 million a year ago. Net income was $410 million or $1.19 per diluted share compared to $516 million or $1.40 per diluted share a year ago. Net cash provided by operating activities was $398 million compared to $736 million a year ago. Purchase of property and equipment was $367 million compared to $335 million a year ago. Cash flow from operating activities was $398 million, $338 million below last year due primarily to $106 million of lower net income and $154 million from higher inventory, net of payables. The company provided earnings guidance for the full year of 2015. The company is maintaining its guidance for 2015 earnings per diluted share to be in the range of $4.70 to $4.80 as a result of the expected $250 million gain on the sale of real estate in downtown Brooklyn, which was not factored into previous calculations. The company expects annual effective tax rate to be approximately 37%.

Macy’s Forms Joint Venture with Fung Retailing to Test e-commerce in China

Macy’s, Inc. announced that it has formed a free-standing joint venture with Fung Retailing Limited to explore retailing in China. The joint venture, which is 65% owned by Macy’s and 35% owned by Fung Retailing, will start with an e-commerce pilot. For Macy’s the joint venture is expected to develop significant new learnings on customer preferences and buying patterns within China. Under the joint venture, Macy’s plans to begin selling in China in late 2015 through an e-commerce presence on Alibaba Group’s Tmall Global, their premiere marketplace that connects overseas branded retailers to Chinese consumers. To be based in Hong Kong and called Macy’s China Limited, the Macy’s-Fung joint venture will curate a Macy’s online merchandise assortment especially for Chinese customers and fulfill Tmall Global orders from Hong Kong through local logistics channels, including LF Logistics, an affiliate of Fung Retailing. Alipay will be a primary payment channel for Macy’s e-commerce offerings in China.

Macy's Mulls Acquisitions

Macy's, Inc. (NYSE:M) may consider acquisition opportunities. When asked if the company would consider growing by acquisition, Karen Hoguet, Chief Financial Officer of the company said: “I think we have to see how the test goes, but there's lots of ways that we could grow Backstage, whether it be organic, acquisition, within Macy's stores. There's lots of ideas floating, but I don't want to get ahead of our test either.”

 

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Industry Analysis

M

Industry Average

Valuation M Industry Range
Price/Earnings 14.4x
Price/Sales 0.7x
Price/Book 4.0x
Price/Cash Flow 13.9x
TEV/Sales 0.4x
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