Tiffany (NYSE: TIF), United Continental (NYSE: UAL), Alcoa (NYSE: AA), Juniper Networks (NASDAQ: JNPR), Macy’s (NYSE: M) and Amazon.com (NASDAQ: AMZN) had price targets on them adjusted by analysts.
Tiffany (TIF) had its price target lowered by Collins Stewart to $66.00.
United Continental (UAL) had its price target lowered by Bank of America (NYSE:BAC) to $32.00.
Alcoa (AA) had its price target lowered by Barclays Capital (NYSE:BCS) from $13.00 to $11.00. They have an “Equal Weight” rating on the company.
Juniper Networks (JNPR) had its price target lowered by FBN Securities to $20.00. They have a “Market Perform” rating on the company.
Macy’s (M) had its price target raised by Credit Suisse (NYSE:CS) to $36.00. They have an “Outperform” rating on the company.
Amazon.com (AMZN) had its price target raised by Barclays Capital from $220.00 to $225.00. They have an “Equal Weight” rating on the company.
Showing posts with label Macy's. Show all posts
Showing posts with label Macy's. Show all posts
Wednesday, January 11, 2012
Thursday, May 19, 2011
Price Targets on (M) (PWR) (RICK) (SAPE) (SGMS) Updated
Price targets on shares of Macy’s (NYSE: M), Quanta Services, Inc. (NYSE: PWR), Rick’s Cabaret (NASDAQ: RICK), Sapient Co. (NASDAQ: SAPE) and Scientific Games Corp (NASDAQ: SGMS) updated by analysts.
FBR Capital raised their price target on Macy’s (M) from $31.00 to $34.00. They have an “outperform” rating on the company.
Piper Jaffray (NYSE:PJC) cut their price target on Quanta Services, Inc. (PWR) from $25.00 to $22.00. They have an “overweight” rating on the company.
BMC Equities Research raised their price target on Rick’s Cabaret (RICK) from $12.00 to $1.00. They have a “buy” rating on the company.
Citigroup (NYSE:C) raised their price target on Sapient Co. (SAPE) from $14.75 to $17.25. They have a “buy” rating on the company.
BMC Equities Research cut their price target on Scientific Games Corp (SGMS) from $14.00 to $13.00. They have a “buy” rating on the company.
FBR Capital raised their price target on Macy’s (M) from $31.00 to $34.00. They have an “outperform” rating on the company.
Piper Jaffray (NYSE:PJC) cut their price target on Quanta Services, Inc. (PWR) from $25.00 to $22.00. They have an “overweight” rating on the company.
BMC Equities Research raised their price target on Rick’s Cabaret (RICK) from $12.00 to $1.00. They have a “buy” rating on the company.
Citigroup (NYSE:C) raised their price target on Sapient Co. (SAPE) from $14.75 to $17.25. They have a “buy” rating on the company.
BMC Equities Research cut their price target on Scientific Games Corp (SGMS) from $14.00 to $13.00. They have a “buy” rating on the company.
Price Targets on (SINA) ( M) (STWD) (SUPX) (SYMC) Updated
Price targets on shares of Sina (NASDAQ: SINA), Macy’s (NYSE: M), Starwood Property Trust (NASDAQ: STWD), Supertex, Inc. (NASDAQ: SUPX) and Symantec (NASDAQ: SYMC) updated by analysts.
Goldman Sachs (NYSE:GS) raised their price target on Macy’s (M) to $32.00. They have a “neutral” rating on the company.
Stifel Nicolaus raised their price target on Sina (SINA) from $130.00 to $140.00. They have a “buy” rating on the company.
Deutsche Bank (NYSE:DB) raised their price target on Starwood Property Trust (STWD) from $25.50 to $26.50.
Collins Stewart cut their price target on Supertex, Inc. (SUPX) from $26.00 to $20.00. They have a “hold” rating on the company.
FBR Capital raised their price target on Symantec (SYMC) from $18.00 to $21.00. They have a “market perform” rating on the company.
Goldman Sachs (NYSE:GS) raised their price target on Macy’s (M) to $32.00. They have a “neutral” rating on the company.
Stifel Nicolaus raised their price target on Sina (SINA) from $130.00 to $140.00. They have a “buy” rating on the company.
Deutsche Bank (NYSE:DB) raised their price target on Starwood Property Trust (STWD) from $25.50 to $26.50.
Collins Stewart cut their price target on Supertex, Inc. (SUPX) from $26.00 to $20.00. They have a “hold” rating on the company.
FBR Capital raised their price target on Symantec (SYMC) from $18.00 to $21.00. They have a “market perform” rating on the company.
Wednesday, May 18, 2011
Price Targets on (HTHT) (M) (MDSO) (MFB) (OLP) Updated
Price targets on shares of China Lodging Group (NASDAQ: HTHT), Macy’s (NYSE: M), Medidata Solutions, Inc. (NASDAQ: MDSO), Maidenform Brands, Inc. (NYSE: MFB) and One Liberty Properties (NYSE: OLP) updated by analysts.
Goldman Sachs (NYSE:GS) raised their price target on China Lodging Group (HTHT) to $29.00. They have a “buy” rating on the company.
Bank of America (NYSE:BAC) raised their price target on Macy’s (M) from $30.00 to $35.00.
Dougherty & Co. raised their price target on Medidata Solutions, Inc. (MDSO) from $20.00 to $25.00. They have a “neutral” rating on the company.
Citigroup (NYSE:C) raised their price target on Maidenform Brands, Inc. (MFB) from $33.00 to $39.00. They have a “buy” rating on the company.
Compass Point raised their price target on One Liberty Properties (OLP) to $18.00.
Goldman Sachs (NYSE:GS) raised their price target on China Lodging Group (HTHT) to $29.00. They have a “buy” rating on the company.
Bank of America (NYSE:BAC) raised their price target on Macy’s (M) from $30.00 to $35.00.
Dougherty & Co. raised their price target on Medidata Solutions, Inc. (MDSO) from $20.00 to $25.00. They have a “neutral” rating on the company.
Citigroup (NYSE:C) raised their price target on Maidenform Brands, Inc. (MFB) from $33.00 to $39.00. They have a “buy” rating on the company.
Compass Point raised their price target on One Liberty Properties (OLP) to $18.00.
Price Targets on (PEGA) (HTHT) (PETD) (M) (PNM) Updated
Price targets on shares of Pegasystems Inc. (NASDAQ: PEGA), China Lodging Group (NASDAQ: HTHT), Petroleum Development Co. (NASDAQ: PETD), Macy’s (NYSE: M) and PNM Resources, Inc. (NYSE: PNM) updated by analysts.
Dougherty & Co. raised their price target on Pegasystems Inc. (PEGA) from $34.00 to $42.00. They have a “neutral” rating on the company.
BMC Equities Research analysts raised their price target on shares of China Lodging Group (HTHT) from $22.00 to $26.00. They have a “buy” rating on the company.
Bank of America (NYSE:BAC) cut their price target on Petroleum Development Co. (PETD) from $48.00 to $41.00. They have a “buy” rating on the company.
Citigroup (NYSE:C) raised their price target on Macy’s (M) from $32.00 to $44.00. They have a “buy” rating on the company.
Ladenburg Thalmann raised their price target on PNM Resources, Inc. (PNM) from $15.00 to $16.50. They have a “neutral” rating on the company.
Dougherty & Co. raised their price target on Pegasystems Inc. (PEGA) from $34.00 to $42.00. They have a “neutral” rating on the company.
BMC Equities Research analysts raised their price target on shares of China Lodging Group (HTHT) from $22.00 to $26.00. They have a “buy” rating on the company.
Bank of America (NYSE:BAC) cut their price target on Petroleum Development Co. (PETD) from $48.00 to $41.00. They have a “buy” rating on the company.
Citigroup (NYSE:C) raised their price target on Macy’s (M) from $32.00 to $44.00. They have a “buy” rating on the company.
Ladenburg Thalmann raised their price target on PNM Resources, Inc. (PNM) from $15.00 to $16.50. They have a “neutral” rating on the company.
Price Targets on (HTHT) (M) (MDSO) (MFB) (OLP) Updated
Price targets on shares of China Lodging Group (NASDAQ: HTHT), Macy’s (NYSE: M), Medidata Solutions, Inc. (NASDAQ: MDSO), Maidenform Brands, Inc. (NYSE: MFB) and One Liberty Properties (NYSE: OLP) updated by analysts.
Goldman Sachs (NYSE:GS) raised their price target on China Lodging Group (HTHT) to $29.00. They have a “buy” rating on the company.
Bank of America (NYSE:BAC) raised their price target on Macy’s (M) from $30.00 to $35.00.
Dougherty & Co. raised their price target on Medidata Solutions, Inc. (MDSO) from $20.00 to $25.00. They have a “neutral” rating on the company.
Citigroup (NYSE:C) raised their price target on Maidenform Brands, Inc. (MFB) from $33.00 to $39.00. They have a “buy” rating on the company.
Compass Point raised their price target on One Liberty Properties (OLP) to $18.00.
Goldman Sachs (NYSE:GS) raised their price target on China Lodging Group (HTHT) to $29.00. They have a “buy” rating on the company.
Bank of America (NYSE:BAC) raised their price target on Macy’s (M) from $30.00 to $35.00.
Dougherty & Co. raised their price target on Medidata Solutions, Inc. (MDSO) from $20.00 to $25.00. They have a “neutral” rating on the company.
Citigroup (NYSE:C) raised their price target on Maidenform Brands, Inc. (MFB) from $33.00 to $39.00. They have a “buy” rating on the company.
Compass Point raised their price target on One Liberty Properties (OLP) to $18.00.
Dividends on (CMCSA) (COHU) (FDO) (GKSR) (NYSE:M) Declared
Comcast Corp. (NASDAQ:CMCSA), Cohu Inc. (NASDAQ:COHU), Family Dollar Stores (NYSE:FDO), G & K Services Cl'A' (NASDAQ:GKSR) and Macy's Inc. M (NYSE:M) declare dividends.
The Board of Directors of Comcast Corp. (CMCSA) declared a quarterly common stock dividend of $0.1125 per share payable 7/27/11 to shareholders of record at the close of business on 7/6/11.
The Board of Directors of Cohu Inc. (COHU) declared a quarterly common stock dividend of $0.06 per share payable 8/5/11 to shareholders of record at the close of business on 6/24/11.
The Board of Directors of Family Dollar Stores (FDO) declared a quarterly common stock dividend of $0.18 per share payable 7/15/11 to shareholders of record at the close of business on 6/15/11.
The Board of Directors of G & K Services Cl'A' (GKSR) declared a quarterly common stock dividend of $0.095 per share payable 6/20/11 to shareholders of record at the close of business on 5/20/11.
The Board of Directors of Macy's Inc. (M) declared a quarterly common stock dividend of $0.10 per share payable 7/1/11 to shareholders of record at the close of business on 6/15/11.
The Board of Directors of Comcast Corp. (CMCSA) declared a quarterly common stock dividend of $0.1125 per share payable 7/27/11 to shareholders of record at the close of business on 7/6/11.
The Board of Directors of Cohu Inc. (COHU) declared a quarterly common stock dividend of $0.06 per share payable 8/5/11 to shareholders of record at the close of business on 6/24/11.
The Board of Directors of Family Dollar Stores (FDO) declared a quarterly common stock dividend of $0.18 per share payable 7/15/11 to shareholders of record at the close of business on 6/15/11.
The Board of Directors of G & K Services Cl'A' (GKSR) declared a quarterly common stock dividend of $0.095 per share payable 6/20/11 to shareholders of record at the close of business on 5/20/11.
The Board of Directors of Macy's Inc. (M) declared a quarterly common stock dividend of $0.10 per share payable 7/1/11 to shareholders of record at the close of business on 6/15/11.
Price Targets on (PEGA) (HTHT) (PETD) (M) (PNM) Updated
Price targets on shares of Pegasystems Inc. (NASDAQ: PEGA), China Lodging Group (NASDAQ: HTHT), Petroleum Development Co. (NASDAQ: PETD), Macy’s (NYSE: M) and PNM Resources, Inc. (NYSE: PNM) updated by analysts.
Dougherty & Co. raised their price target on Pegasystems Inc. (PEGA) from $34.00 to $42.00. They have a “neutral” rating on the company.
BMC Equities Research analysts raised their price target on shares of China Lodging Group (HTHT) from $22.00 to $26.00. They have a “buy” rating on the company.
Bank of America (NYSE:BAC) cut their price target on Petroleum Development Co. (PETD) from $48.00 to $41.00. They have a “buy” rating on the company.
Citigroup (NYSE:C) raised their price target on Macy’s (M) from $32.00 to $44.00. They have a “buy” rating on the company.
Ladenburg Thalmann raised their price target on PNM Resources, Inc. (PNM) from $15.00 to $16.50. They have a “neutral” rating on the company.
Dougherty & Co. raised their price target on Pegasystems Inc. (PEGA) from $34.00 to $42.00. They have a “neutral” rating on the company.
BMC Equities Research analysts raised their price target on shares of China Lodging Group (HTHT) from $22.00 to $26.00. They have a “buy” rating on the company.
Bank of America (NYSE:BAC) cut their price target on Petroleum Development Co. (PETD) from $48.00 to $41.00. They have a “buy” rating on the company.
Citigroup (NYSE:C) raised their price target on Macy’s (M) from $32.00 to $44.00. They have a “buy” rating on the company.
Ladenburg Thalmann raised their price target on PNM Resources, Inc. (PNM) from $15.00 to $16.50. They have a “neutral” rating on the company.
Friday, May 13, 2011
Price Targets on (IL) (IRWD) (M) (TWTC) Updated
Price targets on IntraLinks Holdings, Inc. (NYSE: IL), Ironwood Pharmaceuticals (NASDAQ: IRWD), Macy’s (NYSE: M) and TW Telecom (NASDAQ: TWTC) were updated by analysts.
Deutsche Bank (NYSE:DB) cut their price target on IntraLinks Holdings, Inc. (IL) from $37.00 to $33.00. They have a “buy” rating on the company.
Ladenburg Thalmann raised their price target on Ironwood Pharmaceuticals (IRWD) from $15.00 to $18.00. They have a “buy” rating on the company.
Barclays Capital raised their price target on Macy’s (M) from $30.00 to $33.00. They have an “equal weight” rating on the company.
Deutsche Bank (NYSE:DB) raised their price target on TW Telecom (TWTC) from $22.00 to $25.00. They have a “buy” rating on the company.
Deutsche Bank (NYSE:DB) cut their price target on IntraLinks Holdings, Inc. (IL) from $37.00 to $33.00. They have a “buy” rating on the company.
Ladenburg Thalmann raised their price target on Ironwood Pharmaceuticals (IRWD) from $15.00 to $18.00. They have a “buy” rating on the company.
Barclays Capital raised their price target on Macy’s (M) from $30.00 to $33.00. They have an “equal weight” rating on the company.
Deutsche Bank (NYSE:DB) raised their price target on TW Telecom (TWTC) from $22.00 to $25.00. They have a “buy” rating on the company.
Thursday, April 7, 2011
Jitters Over (TGT) (BJ) (COST) (KSS) (JCP) (SKS) (JWN) (M) (SSI) March Sales Report
With Macy's (NYSE:M), Target (NYSE:TGT), BJ's Wholesale Club (NYSE:BJ), Costco (Nasdaq:COST), Kohl's (NYSE:KSS), Stage Stores (NYSE:SSI), J.C. Penney (NYSE:JCP), Saks (NYSE:SKS) and Nordstrom (NYSE:JWN) all reporting March sales today, shareholders and investors have jitters over the narrative that will probably emerge; one that most won't like for some of these companies.
On the positive side, Costco and BJ's Wholesale Club should generate improvements in same-store sales, based on getting more benefits from higher gas prices. Macy's and Nordstrom may also turn in a good quarter.
Barclays said, "Ahead of these results, we are raising our Barclays Capital Broadlines/Dept. Stores Same Store-Sales Index estimate for March to (0.8)% from (2.1)% compared with an 11.3% increase last year. The increase in our index is attributable to our expectations for higher comps for Costco and BJ's Wholesale Club, due to a larger benefit from gas prices, as well as our expectations for continued solid momentum at Macy's and Nordstrom, despite the Easter shift. We are raising our estimate for Costco to 6%-8% from 3%-5%, our estimate for BJ's to 0%-2% from (1)%-1%, our estimate for Macy's to (1)%-(3)% from (2)%-(4)%, and our estimate for Nordstrom to 1%-3% from (2)%-(4)%."
Concerning April, the optimism fades though. "We believe overall sales were solid in March; however, we expect the shift of Easter into April out of March, as well as tough comparisons last year, to have a negative impact on this month's results...We are maintaining our estimate for an 11.8% increase in our index in April," Barclays concluded.
It seems the reports will be a mixed bag, as Bed Bath & Beyond may have stolen some business from Target, and there could be some other surprises in there.
On the positive side, Costco and BJ's Wholesale Club should generate improvements in same-store sales, based on getting more benefits from higher gas prices. Macy's and Nordstrom may also turn in a good quarter.
Barclays said, "Ahead of these results, we are raising our Barclays Capital Broadlines/Dept. Stores Same Store-Sales Index estimate for March to (0.8)% from (2.1)% compared with an 11.3% increase last year. The increase in our index is attributable to our expectations for higher comps for Costco and BJ's Wholesale Club, due to a larger benefit from gas prices, as well as our expectations for continued solid momentum at Macy's and Nordstrom, despite the Easter shift. We are raising our estimate for Costco to 6%-8% from 3%-5%, our estimate for BJ's to 0%-2% from (1)%-1%, our estimate for Macy's to (1)%-(3)% from (2)%-(4)%, and our estimate for Nordstrom to 1%-3% from (2)%-(4)%."
Concerning April, the optimism fades though. "We believe overall sales were solid in March; however, we expect the shift of Easter into April out of March, as well as tough comparisons last year, to have a negative impact on this month's results...We are maintaining our estimate for an 11.8% increase in our index in April," Barclays concluded.
It seems the reports will be a mixed bag, as Bed Bath & Beyond may have stolen some business from Target, and there could be some other surprises in there.
Tuesday, April 5, 2011
Abercrombie (ANF) Boosts (JCP) (M) (LTD) (URBN)
Shares of retailers like J.C. Penney (NYSE:JCP), Limited Brands (NYSE:LTD), Urban Outfitters (NASDAQ:URBN) and Macy’s (NYSE:M) are all jumping today, as quarterly results by Abercrombie (NYSE:ANF) are leading the sector higher.
Abercrombie & Fitch is leading the way on its guidance in its latest report, where the company said they see EPS rising to $4.75 for the fiscal year.
The retailer also said in its first investor day in several years that it is going to aggressively maintain momentum with its international expansion.
Abercrombie was trading at $65.96, gaining $6.79, or 11.48 percent, as of 1:47 PM EDT. Limited was trading at $34.83, up $1.49, or 4.49 percent. JCPenny was at $37.05, rising $1.17, or 3.26 percent. Urban Outfitters was trading at $30.88, increasing $0.69, or 2.29 percent. Macy's jumped to $24.73, gaining $0.80, or 3.34 percent.
Abercrombie & Fitch is leading the way on its guidance in its latest report, where the company said they see EPS rising to $4.75 for the fiscal year.
The retailer also said in its first investor day in several years that it is going to aggressively maintain momentum with its international expansion.
Abercrombie was trading at $65.96, gaining $6.79, or 11.48 percent, as of 1:47 PM EDT. Limited was trading at $34.83, up $1.49, or 4.49 percent. JCPenny was at $37.05, rising $1.17, or 3.26 percent. Urban Outfitters was trading at $30.88, increasing $0.69, or 2.29 percent. Macy's jumped to $24.73, gaining $0.80, or 3.34 percent.
Thursday, March 31, 2011
Retailers (WMT) (JCP) (M) (HD) (TGT) (LOW) (ODP) All Down on Inflation Expectations
The CEO of Wal-Mart (NYSE:WMT), Bill Simon, said in an interview with USA Today that he sees inflation having an impact on price in the latter part of 2011, causing retailers like JC Penney (NYSE:JCP), Home Depot (NYSE:HD), Target (NYSE:TGT), Lowe's (NYSE:LOW), Macy's (NYSE:M) and Office Depot (NYSE:ODP) to all fall.
Food companies have already had to begin to endure the higher prices, as input costs rise as food demand surges around the world. In that case the companies have responded more by lowering the amount of product in some packaging, rather than raising prices or suffering the loss of margins and earnings.
Of course general retailers, for the most part, don't have that luxury, and so will be force to raise prices or allow earnings to underperform, something most will most likely not be willing to allow to happen.
Bottom line is it appears in an environment of higher fuel costs retailers will have to boost prices, making it a difficult time for the overall sector going forward, in an a price sensitive situation.
Food companies have already had to begin to endure the higher prices, as input costs rise as food demand surges around the world. In that case the companies have responded more by lowering the amount of product in some packaging, rather than raising prices or suffering the loss of margins and earnings.
Of course general retailers, for the most part, don't have that luxury, and so will be force to raise prices or allow earnings to underperform, something most will most likely not be willing to allow to happen.
Bottom line is it appears in an environment of higher fuel costs retailers will have to boost prices, making it a difficult time for the overall sector going forward, in an a price sensitive situation.
Tuesday, March 8, 2011
Destination Maternity's (DEST) Expands Via Leasing with Macy's (M), Kohl's (KSS), Sears (SHLD), Gordmans (GMAN)
Destination Maternity (Nasdaq:DEST) is expanding its brand through a leasing strategy with stores like Kohl's (NYSE:KSS), Sears (Nasdaq:SHLD) and Gordmans (Nasdaq:GMAN), which they already have a strong presence with, while expanding its leasing arrangement with Macy's (NYSE:M).
Motherhood Maternity is part of Philadelphia-based Destination Maternity (Nasdaq:DEST), a retailer that sells attractive maternity clothing for expectant mother's. Its future looks brighter today than it has in some time.
Management's is aware it must boost profitability. In its investor presentation from February's annual meeting, it mentions that it doubled adjusted EBITDA margins to 10.2% in the past three fiscal years. And it's getting better. It improved its adjusted EBITDA margin by 110 basis points to 9.8% in the first quarter ended December 31. Revenues in 2011 should increase and GAAP diluted earnings per share are expected to be at least $1.81, 37% higher than in 2010. The steps taken to improve profits are working.
Destination Maternity has 35% to 45% market share of the US maternity apparel business. There's no reason it can't do the same in other countries. With its online business growing at 20% a quarter and revenues likely to pass $600 million sometime around Christmas, I see a bright future ahead.
Destination Maternity was trading at $22.84, gaining $1.08, or 4.96 percent, as of 1:21 PM EST.
Source
Motherhood Maternity is part of Philadelphia-based Destination Maternity (Nasdaq:DEST), a retailer that sells attractive maternity clothing for expectant mother's. Its future looks brighter today than it has in some time.
Management's is aware it must boost profitability. In its investor presentation from February's annual meeting, it mentions that it doubled adjusted EBITDA margins to 10.2% in the past three fiscal years. And it's getting better. It improved its adjusted EBITDA margin by 110 basis points to 9.8% in the first quarter ended December 31. Revenues in 2011 should increase and GAAP diluted earnings per share are expected to be at least $1.81, 37% higher than in 2010. The steps taken to improve profits are working.
Destination Maternity has 35% to 45% market share of the US maternity apparel business. There's no reason it can't do the same in other countries. With its online business growing at 20% a quarter and revenues likely to pass $600 million sometime around Christmas, I see a bright future ahead.
Destination Maternity was trading at $22.84, gaining $1.08, or 4.96 percent, as of 1:21 PM EST.
Source
Tuesday, February 8, 2011
Macy's (NYSE:M) is a Steal Says Credit Suisse (NYSE:CS)
Credit Suisse (NYSE:CS) says they see Macy's (NYSE:M) as being undervalued, and are high on the stock at this share price.
"...while the company is projected to produce 32% more EBITDA than it was in '05, the EV is only 19% higher. This disparity is a rather recent phenomenon as FY1 EBITDA estimates have risen by 25% since the beginning of '10 while EV has only increased by 8%," said Credit Suisse.
They said they have more conviction now in their belief Macy's is undervalued than last month when they boosted their rating on the retailer.
Credit Suisse maintains its "Outperform" rating on Macy's, which was trading at $24.09, gaining $0.58, or 2.47 percent, as of 1:41 PM EST. CS has a price target of $27 on Macy's.
"...while the company is projected to produce 32% more EBITDA than it was in '05, the EV is only 19% higher. This disparity is a rather recent phenomenon as FY1 EBITDA estimates have risen by 25% since the beginning of '10 while EV has only increased by 8%," said Credit Suisse.
They said they have more conviction now in their belief Macy's is undervalued than last month when they boosted their rating on the retailer.
Credit Suisse maintains its "Outperform" rating on Macy's, which was trading at $24.09, gaining $0.58, or 2.47 percent, as of 1:41 PM EST. CS has a price target of $27 on Macy's.
Tuesday, January 11, 2011
99 Cents Only (NYSE:NDN), Aeropostale (NYSE:ARO), American Eagle (NYSE:AEO) Named Top LBO Candidates for 2011 by Deutsche (NYSE:DB)
Deutsche Bank (NYSE:DB) released an interesting list of takeover candidates for 2011 in the U.S retail sector, using a metric of those which would probably generate 20 percent premium or more, with their top possibilities being 99 Cents Only (NYSE:NDN), Aeropostale (NYSE:ARO) and American Eagle (NYSE:AEO).
Other big names they consider leading candidates, although not as probable as the three above, were Macy's (NYSE: M), Saks (NYSE:SKS), RadioShack (NYSE:RSH), The Buckle (NYSE:BKE), Best Buy (NYSE:BBY), AnnTaylor (NYSE:ANN), Big Lots (NYSE:BIG) and Gap (NYSE:GPS)
99 Cents Only closed at $15.65 Monday, gaining $0.08, or 0.51 percent. Aeropostale closed at $25.21, up $0.38, or 1.53 percent. American Eagle ended the session at $14.37, down $0.09, or 0.62 percent.
Other big names they consider leading candidates, although not as probable as the three above, were Macy's (NYSE: M), Saks (NYSE:SKS), RadioShack (NYSE:RSH), The Buckle (NYSE:BKE), Best Buy (NYSE:BBY), AnnTaylor (NYSE:ANN), Big Lots (NYSE:BIG) and Gap (NYSE:GPS)
99 Cents Only closed at $15.65 Monday, gaining $0.08, or 0.51 percent. Aeropostale closed at $25.21, up $0.38, or 1.53 percent. American Eagle ended the session at $14.37, down $0.09, or 0.62 percent.
Friday, January 7, 2011
Target (NYSE:TGT), Costco (Nasdaq:COST), Macy's (NYSE:M), Gap (NYSE:GPS) Plunge on Weak December Sales
Christmas sales in December came in way under expectations, hammering the retail sector, with stocks like Target (NYSE:TGT), Costco (Nasdaq:COST), Macy's (NYSE:M) and Gap (NYSE:GPS) plummeting on the news.
While sales in November were strong, all of that was discount-generated, and it'll come down to margins and earnings as to whether that will ultimately be viewed as a positive, with the probability of low earnings being the result.
For the period of October 31 through January 1, same-store sales grew by 3.8 percent for the retail sector from last year during the same quarter, the best performance since 2006. But again, the bottom line is earnings not sales, and that's what we have yet to hear.
Another problem heading into 2011 is the training of customers to expect bargains at a time when clothing prices will be going up because of increasing prices of cotton.
Those attempting to spin this as a great season are delusional. Even the high-end retailers had to discount in order to attract customers. Their sales were better as a result, but at the cost of earnings.
Costco closed Thursday at $70.65, down $0.34, or 0.48 percent. Macy's closed at $23.97, down $1.00, or 4.00 percent. Gap ended the session at $20.70, down $1.53, or 6.88 percent. Target closed the day at $54.93, down $4.01, or 6.80 percent.
While sales in November were strong, all of that was discount-generated, and it'll come down to margins and earnings as to whether that will ultimately be viewed as a positive, with the probability of low earnings being the result.
For the period of October 31 through January 1, same-store sales grew by 3.8 percent for the retail sector from last year during the same quarter, the best performance since 2006. But again, the bottom line is earnings not sales, and that's what we have yet to hear.
Another problem heading into 2011 is the training of customers to expect bargains at a time when clothing prices will be going up because of increasing prices of cotton.
Those attempting to spin this as a great season are delusional. Even the high-end retailers had to discount in order to attract customers. Their sales were better as a result, but at the cost of earnings.
Costco closed Thursday at $70.65, down $0.34, or 0.48 percent. Macy's closed at $23.97, down $1.00, or 4.00 percent. Gap ended the session at $20.70, down $1.53, or 6.88 percent. Target closed the day at $54.93, down $4.01, or 6.80 percent.
Thursday, January 6, 2011
Target (NYSE:TGT), Kohl's (NYSE:KSS), J.C. Penney (NYSE:JCP), Saks (NYSE:SKS), Nordstrom (NYSE:JWN), Macy's (NYSE:M), BJ's (NYSE:BJ), Costco (NYSE:COST), Stage Stores (NYSE:SSI) Reporting December Sales Today
Target (NYSE:TGT), Kohl's (NYSE:KSS), J.C. Penney (NYSE:JCP), Saks (NYSE:SKS), Nordstrom (NYSE:JWN), Macy's (NYSE:M), BJ's (NYSE:BJ), Costco (NYSE:COST) and Stage Stores (NYSE:SSI) are all going to report December sales today, following in the footsteps of recent practices of retailers in the past years.
Barclays said, "Ahead of Thursday's results, we are slightly raising our Barclays Capital Broadlines/Dept. Stores Same Store-Sales Index estimate for November to 4.7% from 4.5% compared with a 3.7% increase last year. The increase in our index is attributable to Nordstrom, which we raised to 5%-7% from 0%-2%. In addition, we are expecting a positive comp result this quarter from Wal-Mart, and we expect Sears comps to decline (3.5)% in 4Q10. Finally, we expect that Tiffany sales increased in-line with our 4Q10 comp estimate of 2%."
"We believe that strength seen in November continued through December and the remainder of the holiday season, and now expect our Barclays Capital Broadlines/Dept. Stores Same Store-Sales Index for the combined November/December period to post the largest increase since 2003. Calendar shifts and Christmas timing appeared to be a non-event. However, the after-Christmas snow storms on the East Coast may have had a slightly negative impact on December sales."
"We believe that inventory levels are largely in good condition and promotional activity remained mostly at planned and reasonable levels. January should enable retailers to handle existing clearance merchandise and set the floors for spring."
Tiffany (NYSE:TIF) will be issue a press release concerning holiday sales next Tuesday.
Barclays said, "Ahead of Thursday's results, we are slightly raising our Barclays Capital Broadlines/Dept. Stores Same Store-Sales Index estimate for November to 4.7% from 4.5% compared with a 3.7% increase last year. The increase in our index is attributable to Nordstrom, which we raised to 5%-7% from 0%-2%. In addition, we are expecting a positive comp result this quarter from Wal-Mart, and we expect Sears comps to decline (3.5)% in 4Q10. Finally, we expect that Tiffany sales increased in-line with our 4Q10 comp estimate of 2%."
"We believe that strength seen in November continued through December and the remainder of the holiday season, and now expect our Barclays Capital Broadlines/Dept. Stores Same Store-Sales Index for the combined November/December period to post the largest increase since 2003. Calendar shifts and Christmas timing appeared to be a non-event. However, the after-Christmas snow storms on the East Coast may have had a slightly negative impact on December sales."
"We believe that inventory levels are largely in good condition and promotional activity remained mostly at planned and reasonable levels. January should enable retailers to handle existing clearance merchandise and set the floors for spring."
Tiffany (NYSE:TIF) will be issue a press release concerning holiday sales next Tuesday.
Thursday, December 16, 2010
Ann Taylor (NYSE:ANN), Abercrombie & Fitch (NYSE:ANF), Macy’s (NYSE:M) FBR's Top Specialty Retailers
Talking retail consumer stocks FBR Capital gave their nod in the specialty retail to Ann Taylor (NYSE:ANN) and Abercrombie & Fitch (NYSE:ANF), while in the department store segment they like Macy’s (NYSE:M)
FBR said, "After two years of significant outperformance, we believe performance for consumer discretionary stocks will be more selective in 2011. We have experienced two years of earnings recovery, and, for the most part, earnings trends should begin to normalize in 2011. Many retailers and wholesalers have recovered merchandise margins and cut SG&A, but sales growth is contingent on incomes, which will obviously increase with jobs. Job growth has been meager, and unemployment remains heightened, therefore we would expect spending trends to improve at a modest pace. Additionally, product cost inflation has emerged as a threat to margins in FY11. Given this backdrop, the focus is primarily on share gainers and secular growth stories and companies that are well positioned to handle product cost inflation.
"Our specialty retail recommendations are Ann Taylor (Outperform) and Abercrombie & Fitch (Outperform). In the department store group, we like Macy’s (Outperform)."
AnnTaylor closed Wednesday at $27.17, up $0.05, or 0.18 percent. Abercrombie & Fitch closed at $54.71, down $0.43, or 0.78 percent. Macy's ended the session at $25.27, up $0.09, or 0.36 percent.
FBR said, "After two years of significant outperformance, we believe performance for consumer discretionary stocks will be more selective in 2011. We have experienced two years of earnings recovery, and, for the most part, earnings trends should begin to normalize in 2011. Many retailers and wholesalers have recovered merchandise margins and cut SG&A, but sales growth is contingent on incomes, which will obviously increase with jobs. Job growth has been meager, and unemployment remains heightened, therefore we would expect spending trends to improve at a modest pace. Additionally, product cost inflation has emerged as a threat to margins in FY11. Given this backdrop, the focus is primarily on share gainers and secular growth stories and companies that are well positioned to handle product cost inflation.
"Our specialty retail recommendations are Ann Taylor (Outperform) and Abercrombie & Fitch (Outperform). In the department store group, we like Macy’s (Outperform)."
AnnTaylor closed Wednesday at $27.17, up $0.05, or 0.18 percent. Abercrombie & Fitch closed at $54.71, down $0.43, or 0.78 percent. Macy's ended the session at $25.27, up $0.09, or 0.36 percent.
Wednesday, December 15, 2010
FBR Talks Abercrombie (NYSE:ANF), American Eagle (NYSE:AEO), Chico’s (NYSE:CHS), Coldwater Creek (Nasdaq:CWTR), Macy’s (NYSE:M), Kohl's (NYSE:KSS), JCPenney (NYSE:JCP), Nordstrom (NYSE:JWN)
FBR Capital gave its outlook on the Consumer/Specialty Retail sector for the Christmas season, highlighting a mixed bag of stores, including Abercrombie (NYSE:ANF), American Eagle (NYSE:AEO), Chico’s (NYSE:CHS), Coldwater Creek (Nasdaq:CWTR), Macy’s (NYSE:M), Kohl's (NYSE:KSS), JCPenney (NYSE:JCP) and Nordstrom (NYSE:JWN).
FBR said, "According to the International Council of Shopping Centers, sales last week accelerated 3.1% over last year. This is a 0.8% gain over the prior week. According to comScore, holiday season retail e-commerce spending for the first 40 days of the November–December 2010 holiday season reached $21.95 billion, marking a 12% increase over last year. The most recent week, the week ending December 10, reached $5.15 billion in spending, an increase of 11% versus last year."
"We saw a modest pickup in discounting this weekend. Traffic in the malls that we visited was okay, not tremendous. We continue to expect a bookended holiday season, with strength at the beginning and the end...There appears to be a very big difference between the high end and low end in terms of traffic and bags. The low end is remaining austere this year. The high end is shopping and buying more for themselves while buying gifts...Teen stocks - Abercrombie and American Eagle discounts were pretty consistent with last weekend....Women’s: Chico’s and Coldwater Creek were under pressure after the Talbot’s news last week...Macy’s looks phenomenal still...Traffic continues to be strong at Kohl's; seems to be decent at JCPenney, too...Nordstrom business appears to have picked up."
Abercrombie closed Tuesday at $55.14, up $0.45, or 0.82 percent. American Eagle closed at $15.12, down $0.25, or 1.63 percent. Chico’s ended at $11.85, down $0.02, or 0.19 percent. Coldwater Creek closed at $2.74, down $0.02, or 0.72 percent. Macy's was at $25.18, up $0.23, or 0.92 percent. Kohl's ended the day at $53.58, up $0.18, or 0.34 percent. JCPenney closed at $32.47, down $0.36, or 1.10 percent. Nordstrom closed at $41.77, up $0.11, or 0.25 percent.
FBR said, "According to the International Council of Shopping Centers, sales last week accelerated 3.1% over last year. This is a 0.8% gain over the prior week. According to comScore, holiday season retail e-commerce spending for the first 40 days of the November–December 2010 holiday season reached $21.95 billion, marking a 12% increase over last year. The most recent week, the week ending December 10, reached $5.15 billion in spending, an increase of 11% versus last year."
"We saw a modest pickup in discounting this weekend. Traffic in the malls that we visited was okay, not tremendous. We continue to expect a bookended holiday season, with strength at the beginning and the end...There appears to be a very big difference between the high end and low end in terms of traffic and bags. The low end is remaining austere this year. The high end is shopping and buying more for themselves while buying gifts...Teen stocks - Abercrombie and American Eagle discounts were pretty consistent with last weekend....Women’s: Chico’s and Coldwater Creek were under pressure after the Talbot’s news last week...Macy’s looks phenomenal still...Traffic continues to be strong at Kohl's; seems to be decent at JCPenney, too...Nordstrom business appears to have picked up."
Abercrombie closed Tuesday at $55.14, up $0.45, or 0.82 percent. American Eagle closed at $15.12, down $0.25, or 1.63 percent. Chico’s ended at $11.85, down $0.02, or 0.19 percent. Coldwater Creek closed at $2.74, down $0.02, or 0.72 percent. Macy's was at $25.18, up $0.23, or 0.92 percent. Kohl's ended the day at $53.58, up $0.18, or 0.34 percent. JCPenney closed at $32.47, down $0.36, or 1.10 percent. Nordstrom closed at $41.77, up $0.11, or 0.25 percent.
Monday, November 29, 2010
Citigroup (NYSE:C) Chooses Target (NYSE:TGT), Macy's (NYSE:M) as Top Christmas Picks
After a robust shopping weekend after Thanksgiving in America, Citigroup (NYSE:C) said they're raising their same-store estimates for the Christmas season, increasing them for November from 1.5 percent to 2.5 percent, and for December from 2 percent to 3 percent.
Contrasting last year's sales to this year during the same weekend, Citi noted a major boost of 33 percent for online spending on Thanksgiving day, and a 16 percent increase on Black Friday.
Along with Target and Macy's, other stores enjoying strong Black Friday sales were Saks (NYSE:SKS) and Kohl's (NYSE:KSS).
All of this sounds positive, but it remains to be seen at what costs the larger numbers are being attained, as stores around the country are under severe pricing and margin pressure in order to attract customers during the major shopping season.
It seems traders are considering that as well, as Target was trading at $56.36, falling $0.49, or 0.86 percent at 12:50 PM EST. Kohl's was trading at $56.40, down by $0.94, or 1.64 percent. Citi has a price target of $72 on Target and $33 on Kohl's.
Contrasting last year's sales to this year during the same weekend, Citi noted a major boost of 33 percent for online spending on Thanksgiving day, and a 16 percent increase on Black Friday.
Along with Target and Macy's, other stores enjoying strong Black Friday sales were Saks (NYSE:SKS) and Kohl's (NYSE:KSS).
All of this sounds positive, but it remains to be seen at what costs the larger numbers are being attained, as stores around the country are under severe pricing and margin pressure in order to attract customers during the major shopping season.
It seems traders are considering that as well, as Target was trading at $56.36, falling $0.49, or 0.86 percent at 12:50 PM EST. Kohl's was trading at $56.40, down by $0.94, or 1.64 percent. Citi has a price target of $72 on Target and $33 on Kohl's.
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