10.01.2019, 20:34
Services | Department Stores
Macy's cuts profit, sales forecast after weak holiday season
By Nandita Bose and Aishwarya Venugopal
(Reuters) - Macy's Inc (M.N) shares plunged 18 percent on Thursday after the department store operator slashed its full-year profit and sales forecast on the back of an anaemic holiday season, sending a chill through the wider retail sector.
Macy's said its sales slowed after a good start to the holidays, and flagged particular weakness in women's sportswear, sleepwear, fashion jewellery, fashion watches and cosmetics. Its comparable sales over the critical November and December months rose 1.1 percent.
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ORECAST CUTS
Macy's now expects 2 percent growth in comparable sales for the full year, down from a previous outlook of 2.3 percent to 2.5 percent growth. Its comparable sales, including licensed departments, rose 1.1 percent during November and December.
The retailer is now calling for diluted earnings per share of $3.95 to $4.00 for fiscal 2018, excluding settlement charges, impairment and other costs. Its previous guidance issued in November called for EPS of $4.10 to $4.30.
...
https://finance.yahoo.com/news/macys-sha...ccounter=1
![[Bild: Mc1dl1332.png]](https://finviz.com/publish/011019/Mc1dl1332.png)
Macy's cuts profit, sales forecast after weak holiday season
By Nandita Bose and Aishwarya Venugopal
(Reuters) - Macy's Inc (M.N) shares plunged 18 percent on Thursday after the department store operator slashed its full-year profit and sales forecast on the back of an anaemic holiday season, sending a chill through the wider retail sector.
Macy's said its sales slowed after a good start to the holidays, and flagged particular weakness in women's sportswear, sleepwear, fashion jewellery, fashion watches and cosmetics. Its comparable sales over the critical November and December months rose 1.1 percent.
...
ORECAST CUTS
Macy's now expects 2 percent growth in comparable sales for the full year, down from a previous outlook of 2.3 percent to 2.5 percent growth. Its comparable sales, including licensed departments, rose 1.1 percent during November and December.
The retailer is now calling for diluted earnings per share of $3.95 to $4.00 for fiscal 2018, excluding settlement charges, impairment and other costs. Its previous guidance issued in November called for EPS of $4.10 to $4.30.
...
https://finance.yahoo.com/news/macys-sha...ccounter=1