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Strategies & Market Trends : Value Investing

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From: E_K_S	5/15/2019 8:56:31 AM
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Macy's beats by $0.10, misses on revenue May 15, 2019 8:01 AM ET Macy's (NYSE: M): Q1 Non-GAAP EPS of $0.44 beats by $0.10; GAAP EPS of $0.44 beats by $0.12. Revenue of $5.5B (-0.7% Y/Y) misses by $20M. Shares +7.66% PM. Press Release ----------------------------------- Macy's +4% after turning positive comp May 15, 2019 8:13 AM ET\|About: Macy's, Inc. (M)\|By: Clark Schultz, SA News Editor Macy's (NYSE:M) is on watch after comparable sales for Q1 top expectations. Comparable sales on an owned + licensed basis rose 0.7% during the quarter vs. +0.3% consensus. Comparable sales were up 0.6% on an owned basis vs. -0.1% consensus. CEO update: "Our brick & mortar sales trend improved sequentially in the first quarter, supported by the Growth50 stores and Backstage. We had another quarter of double-digit growth in our digital business, and mobile continues to be our fastest-growing channel," said Jeff Gennette, Macy’s, Inc. chairman & chief executive officer." Gross margin was 38.2% of sales vs. 38.2% consensus and 39.0% a year ago. Operating income was 3.7% of sales vs. 4.3% a year ago. The company reaffirms prior 2019 sales and EPS guidance ($3.05 to $3.25 vs. $3.10 consensus). ------------------------------------------------- Company had a low earnings bar to hit. GN value still around $32.00/share or about 40% undervalued. Dividend now yielding 7%. EKS

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