에 대한 최신 뉴스 Macy's (NYSE:M) 주식

Macy's

Founded in 1858 and based in New York City, Macy's operates about 500 stores under the Macy's nameplate, nearly 60 stores under the Bloomingdale's (full-price and outlet) and Bloomie's nameplates, and 157 freestanding Bluemercury specialty beauty stores. Macy's also operates e-commerce sites and licenses Bloomingdale's stores in the United Arab Emirates and Kuwait. Women's apparel, accessories, shoes, cosmetics, and fragrances composed 62% of Macy's 2023 sales.

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주식 시장이 변동성과 씨름하면서 4대 주요 주식인 비자(NYSE:V), 메이시스(NYSE:M), 얌! 브랜즈(NYSE:YUM) 및 타깃(NYSE:TGT)은 데드 크로스(Death Cross)라고 알려진 기술 패턴에 대해 경고하고 있다.

앞으로 주의해야 할 주식: 비자, 메이시스, 얌 브랜즈, 타깃이 데드 크로스에 근접

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PTON

아마존닷컴(NASDAQ:AMZN)의 10주년 프라임 데이(Prime Day)는 7월 16~17일에 열릴 예정이다. 이번 행사는 24개국에서 진행되며, 인도는 올 여름 말에 프라임 행사를 개최한다. 48시간 동안 진행되는 이 이벤트에서는 35개 이상의 제품 카테고리에 걸쳐 수백만 건의 거래를 선보일 예정이다.

아마존 프라임 데이는 라이벌에게 도움이 될지도: 츄이, 이베이, 펠로톤에 주목

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미국 백화점 체인 기업 메이시스(NYSE:M)의 주가는 화요일 개장 전 회사가 예상보다 나은 1분기 조정 주당 순이익(EPS)을 발표하고 전망을 높인 후 상승했다.

이 회사는 2024회계연도 1분기 매출이 전년 동기 대비 2.7% 감소한 48억 4,600만 달러를 기록했다고 보고했는데, 이는 분석가 컨센서스인 48억 6,000만 달러를 약간 밑돌았다.

메이시즈: 1분기 이익이 예상을 상회하고 전망을 상향 조정한 후 주가 상승

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On Wednesday, Levi Strauss &amp; Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/levi#NYSE">LEVI</a>) issued a mixed quarterly report. While the iconic denim brand is doing great as far as its&nbsp;namesake brand and Beyond Yoga&nbsp;are concerned, but its Dockers business is another story, one that Levi is thinking to sell. On a brighter note, by focusing on direct selling and turning away from wholesellers like Macy&rsquo;s Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/m#NYSE">M</a>), aided by&nbsp;lower cotton costs, Levi grew its gross margin.
<h3>Fiscal Third Quarter Highlights</h3>
During the quarter ended on August 25th, Levi reported sales grew 5%, which is the biggest increase in two years. However, overall revenue was flat at $1.52 billion and below LSEG&rsquo;s consensus estimate of&nbsp;$1.55 billion. The Dockers brand reported sales contracted by as much as 15% as they brought in $73.7 million. On the other hand, Beyond Yoga reported 19% growth as sales grew to $32.2 million.
With lower cotton costs and without any need to mark down its products to sell them like Macy&rsquo;s and its magical sales, Levi grew its gross margin by 4.4 percentage points thanks to its direct selling strategy with which it is less reliant on wholesalers like Macy&rsquo;s. Once &lsquo;the world&rsquo;s greatest department&rsquo; store, long gone are the days when Macy&rsquo;s enjoyed margins that Levi is now taking for itself.&nbsp;&nbsp;Fueled by strength in the U.S., the direct channel went up about 10%, with e-commerce alone growing even 16%. Direct sales made 44% of Levi&rsquo;s total revenue and the denim maker aims to push its contribution to 55%.
Net income amounted to $20.7 million or 5 cents per share, with adjusted earnings amounting to 33 cents, surpassing LSEG&rsquo;s consensus estimate of 31 cents.
Denim seems to be the fashion for every era as it never goes out of style.
Levi is counting on denim-loving consumers. During the latest reported quarter, financials were brought down by the Dockers brand as well as challenges in China and Mexico, causing Levi to miss Wall Street estimates for revenue and having to trim its revenue guidance. With Beyonce&rsquo;s support with the official ad campaign having launched on Monday, Levi hopes to fuel growth in the women&rsquo;s&rsquo; department over the long-haul.&nbsp;CEO Michelle Gass&nbsp;spoke confidently of this opportunity as the denim maker&nbsp;sees it growing to at least half of its business, doubling over time and even $2 billion just this year. But,&nbsp;for the latest quarter,&nbsp;missing Wall Street&rsquo;s expectations for revenue and trimming its revenue guidance&nbsp;as it now sees revenue growing 1%, while it previously guided for growth between 1% and 3%. But, with one more quarter to go in the fiscal year, Levi did reaffirm its full-year guidance for adjusted earnings per share that are expected between $1.17 and $1.27. By selling Dockers, Levi believes that both Dockers and Levi&rsquo;s will be empowered to maximize their own&nbsp;values&nbsp;as independent units.&nbsp;
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

LEVI

Levi Strauss Is Proof That Denim Is As Fashionable As Ever

A month has gone by since the last earnings report for Macy&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/m#NYSE">M</a>). Shares have added about 1.1% in that time frame, underperforming the S&amp;P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Macy&#39;s due for a pullback? Before we dive into how investors and analysts have reacted as of late, let&#39;s take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
<h3>Macy&#39;s Q2 Earnings Beat Estimates, Comps Decline Y/Y</h3>
Macy&#39;s has reported second-quarter fiscal 2024 results, wherein the top line lagged the Zacks Consensus Estimate while the bottom line surpassed the same. Total revenues declined and earnings increased from the year-ago quarter&#39;s reported figures. Comparable sales (comps) fell on an owned basis and an owned-plus-licensed basis.
<h3>Sales &amp; Earnings Picture</h3>
Macy&#39;s has reported adjusted earnings of 53 cents per share, surpassing the Zacks Consensus Estimate of 32 cents. Also, the bottom line increased from 23 cents in the year-ago period.
Net sales of $4,937 million missed the consensus estimate of $5,091 million. Also, the top line dipped 3.8% from the year-ago quarter. Comps fell 4% on an owned basis and 3.3% on an owned-plus-licensed-plus-marketplace basis from the prior-year quarter.
Macy&#39;s ongoing business comps, including both go-forward locations and digital platforms across all nameplates, decreased 3.8% on an owned basis and 3% when including owned, licensed and marketplace channels.
Net credit card revenues were $125 million, up 4.2% from the year-ago period. The metric represented 2.5% of sales, up 20 basis points from the year-ago quarter.
<h3>Details by Brands</h3>
Comps across Macy&#39;s declined 4.5% year over year on an owned basis and 3.6% on an owned-plus-licensed-plus-marketplace basis. At the Bloomingdale&#39;s brand, comps decreased 1.1% on an owned basis and 1.4% on an owned-plus-licensed-plus-marketplace basis. Comps at the Bluemercury brand rose 2% on an owned basis.
<h3>Margins</h3>
The gross margin was 40.5%. The metric increased 240 basis points from 38.1% in the prior-year quarter. The merchandise margin increased 210 basis points primarily due to reduced year-over-year discounting, favorable inventory shortages resulting from the company&#39;s asset protection efforts and M&#39;s transition to cost accounting.
Delivery expenses as a percentage of net sales improved year over year by 30 basis points, driven by lower shipped sales volumes and enhanced delivery expense management, reflecting cost-saving measures and process re-engineering initiatives.
The company reported selling, general and administrative (SG&amp;A) expenses of $1.97 billion, down 0.4% from $1.98 billion in the year-ago period. As a percentage of net sales, SG&amp;A expenses increased 140 basis points year over year to 40% on lower net sales.
Macy&#39;s reported an adjusted EBITDA of $438 million, up 26.2% from an adjusted EBITDA of $347 million in the year-ago quarter. We note that the adjusted EBITDA margin was 8.9%, up 210 basis points year over year.
<h3>Other Financial Aspects</h3>
M ended the fiscal second quarter with cash and cash equivalents of $646 million, long-term debt of $2.99 billion, and shareholders&#39; equity of $4.30 billion. Merchandise inventories rose 6% on a year-over-year basis. In the second quarter of fiscal 2024, Macy&#39;s provided cash from operating activities of $137 million.
<h3>A Peek Into Guidance</h3>
The company has revised its annual outlook to account for more cautious consumers and a more intense promotional environment than previously anticipated. This updated outlook is intended to provide the flexibility needed to navigate the continued uncertainty in the discretionary consumer market. M has reaffirmed its annual adjusted earnings per share outlook.
However, Macy&#39;s continues to see fiscal 2024 as a transitional and investment year, focusing on key strategic initiatives to improve customer experience. With the support of a strong balance sheet, the company will prioritize enhancing its gross margin and maintaining expense control to safeguard profitability amid ongoing macroeconomic challenges.
Net sales are projected to be $22.1-$22.4 billion, a slight reduction from the previously stated $22.3-$22.9 billion. Notably, the company reported net sales of $23.1 billion in fiscal 2023.
The outlook for comparable owned-plus-licensed-plus-marketplace sales on a 52-week basis has also been adjusted, with a projected year-over-year decline of 0.5-2%, down from the previously stated range between a drop of 1% and an increase of 1.5%.
Adjusted earnings per share are envisioned to be $2.55-$2.90 for fiscal 2024, implying a decline from the $3.50 earned in the prior year.
<h2>How Have Estimates Been Moving Since Then?</h2>
It turns out, fresh estimates have trended downward during the past month.
The consensus estimate has shifted -100% due to these changes.
<h2>VGM Scores</h2>
Currently, Macy&#39;s has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. However, the stock was allocated a grade of A on the value side, putting it in the top 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren&#39;t focused on one strategy, this score is the one you should be interested in.
<h2>Outlook</h2>
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions has been net zero. It&#39;s no surprise Macy&#39;s has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.
<h2>Performance of an Industry Player</h2>
Macy&#39;s belongs to the Zacks Retail - Regional Department Stores industry. Another stock from the same industry, Dillard&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dds#NYSE">DDS</a>), has gained 6.1% over the past month. More than a month has passed since the company reported results for the quarter ended July 2024.
Dillard&#39;s reported revenues of $1.49 billion in the last reported quarter, representing a year-over-year change of -4.9%. EPS of $4.59 for the same period compares with $7.98 a year ago.
Dillard&#39;s is expected to post earnings of $6.47 per share for the current quarter, representing a year-over-year change of -30.4%. Over the last 30 days, the Zacks Consensus Estimate has changed -4.2%.
Dillard&#39;s has a Zacks Rank #4 (Sell) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.
<a href="https://www.zacks.com/stock/news/2339317/macy-s-m-up-1-1-since-last-earnings-report-can-it-continue?cid=CS-BENZ-FT-realtime_blog-2339317">To read this article on Zacks.com click here.</a>

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Macy's Up 1.1% Since Last Earnings Report: Can It Continue?

Macy&#8217;s, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) disclosed plans to hire more than 31,500 full- and part-time seasonal positions this upcoming holiday season at its Macy&#8217;s, Bloomingdale&#8217;s, and Bluemercury stores,<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40947705/macys-inc-gears-up-to-hire-for-more-than-31-500-seasonal-positions-to-deliver-joyful-holiday-shopp" rel="noreferrer noopener"> as well as its distribution centers</a>.
Macy&#8217;s offers several convenient hiring experiences for candidates, including an online application process that takes as little as five minutes, with most job offers made within 48 hours.
Additionally, the company is holding four nationwide in-person holiday hiring events at all stores and supply chain locations. Times may vary by location.
Danielle Kirgan, Macy&#8217;s, Inc. chief human resources and corporate affairs officer, said, &#8220;We are excited to add more than 31,500 seasonal positions to help us welcome and serve our customers during the holidays.&#8221;
&#8220;Whether they are looking for extra income for the season or the start of a new career in retail, we offer an unmatched culture, competitive pay and fulfilling career opportunities.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40510353/macys-strong-earnings-tempered-by-weak-sales-but-analysts-see-green-shoots-emerging" rel="noreferrer noopener">Macy&#8217;s Strong Earnings Tempered By Weak Sales, But Analysts See &#8216;Green Shoots&#8217; Emerging</a>
Other major U.S. retailers are also stepping up their holiday game. Recently, Target also announced its intention to recruit <a target="_blank" href="https://www.benzinga.com/news/24/09/40878577/target-set-to-recruit-100k-seasonal-employees-despite-anticipated-slow-holiday-sales" rel="noreferrer noopener">approximately 100,000 seasonal employees</a>.
Apart from this, this month,&nbsp;Bath &amp; Body Works also disclosed plans to hire 30,000 seasonal employees.
Investors can gain exposure to Macy&#8217;s via Invesco S&amp;P Midcap 400 Pure Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RFV#NYSE">RFV</a>).
Price Action: M shares are trading higher by 0.07% at $15.34 premarket at the last check Friday.
Photo via Shutterstock
Read Next:
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Holiday Opportunity: Macy's Plans To Hire 31,500 Seasonal Workers

Candidates are invited to explore full- and part-time seasonal opportunities supporting Macy's, Inc.'s portfolio of nameplates, including Macy's, Bloomingdale's and Bluemercury
Holiday hiring events will take place nationwide at all stores and distribution centers throughout the season, with the first on Thursday, September 26
Macy's, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) today announced plans to hire more than 31,500 full- and part-time seasonal positions this upcoming holiday season at its Macy's, Bloomingdale's and Bluemercury stores, as well as its distribution centers. Macy's, Inc. offers several convenient hiring experiences for candidates including an online application process that takes as little as five minutes, with most job offers made within 48 hours. Additionally, the company is holding four nationwide in-person holiday hiring events at all stores and supply chain locations. Times may vary by location.
<ul>
<li>September 26</li>
<li>October 24</li>
<li>November 21</li>
<li>December 4</li>
</ul>

Macy's Gears Up To Hire For More Than 31,500 Seasonal Positions; Holiday Hiring Events Will Take Place Nationwide At All Stores And Distribution Centers Throughout The Season, With The First On Thursday, September 26

Introducing Mode of One, a new menswear brand that celebrates individuality, style expression, from high-quality essentials to statement-making designs
Today, Macy's introduced <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.macys.com%2Fshop%2Ffeatured%2Fmode-of-one&amp;esheet=54120927&amp;newsitemid=20240912788122&amp;lan=en-US&amp;anchor=Mode+of+One&amp;index=1&amp;md5=e5cea895ed7970a7d24fcb3638fe30b0">Mode of One</a>, a new contemporary menswear brand designed for the individual who sees style as a powerful form of self-expression. The assortment features a range of high-quality must-have items from elevated everyday essentials to statement-making designs, all with a focus on impeccable fits and proportions. Mode of One strengthens Macy's contemporary menswear assortment and is part of the company's ongoing private brands reimagination. The collection is now available on Macys.com, the Macy's mobile app, and in Macy's stores nationwide.

Macy's Launches Mode Of One, A New Contemporary Menswear Brand

Offerings

Macy's Subsidiary Macy's Retail Holdings Commences $220M Cash Tender Offer To Purchase Outstanding Notes, Prioritizing Notes As Listed​

Disclosed on August 26, Adrian V Mitchell, EVP at Macy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>), executed a substantial insider sell as per the latest SEC filing.
What Happened: Mitchell's decision to sell 12,000 shares of Macy's was revealed in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000794367/000079436724000179//Archives/edgar/data/794367/000079436724000179/0000794367-24-000179-index.htm">U.S. Securities and Exchange Commission</a> on Monday. The total value of the sale is $191,076.
The latest update on Tuesday morning shows Macy's shares down by 0.89%, trading at $15.62.
<h3>Delving into Macy's's Background</h3>
Founded in 1858 and based in New York City, Macy's operates about 500 stores under the Macy's nameplate, nearly 60 stores under the Bloomingdale's (full-price and outlet) and Bloomie's nameplates, and 159 freestanding Bluemercury specialty beauty stores. Macy's also operates e-commerce sites and licenses Bloomingdale's stores in the United Arab Emirates and Kuwait. Women's apparel, accessories, shoes, cosmetics, and fragrances composed 62% of Macy's 2023 sales.
<h3>Financial Insights: Macy's</h3>
Revenue Growth: Macy's displayed positive results in 3 months. As of 31 July, 2024, the company achieved a solid revenue growth rate of approximately 1.92%. This indicates a notable increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Consumer Discretionary sector.
Profitability Metrics:
<ul>
<li>
Gross Margin: The company sets a benchmark with a high gross margin of 42.35%, reflecting superior cost management and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): Macy's's EPS is below the industry average. The company faced challenges with a current EPS of 0.54. This suggests a potential decline in earnings.
</li>
</ul>
Debt Management: Macy's's debt-to-equity ratio stands notably higher than the industry average, reaching 1.4. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
Valuation Overview:
<ul>
<li>
Price to Earnings (P/E) Ratio: The current P/E ratio of 24.25 is below industry norms, indicating potential undervaluation and presenting an investment opportunity.
</li>
<li>
Price to Sales (P/S) Ratio: With a lower-than-average P/S ratio of 0.19, the stock presents an attractive valuation, potentially signaling a buying opportunity for investors interested in sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Macy's's EV/EBITDA ratio, lower than industry averages at 7.78, indicates attractively priced shares.
</li>
</ul>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
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<h3>Why Insider Transactions Are Important</h3>
While insider transactions should not be the sole basis for making investment decisions, they can play a significant role in an investor's decision-making process.
From a legal standpoint, the term "insider" pertains to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities as outlined in Section 12 of the Securities Exchange Act of 1934. This encompasses executives in the c-suite and significant hedge funds. These insiders are mandated to inform the public of their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
A company insider's new purchase is a indicator of their positive anticipation for a rise in the stock.
While insider sells may not necessarily reflect a bearish view and can be motivated by various factors.
<h3>Unlocking the Meaning of Transaction Codes</h3>
When analyzing transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> tend to focus on those in the open market, detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase,while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000794367">Check Out The Full List Of Macy's's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

EVP Of Macy's Makes $191K Sale

Macy&#39;s, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/m#NYSE">M</a>) holds a prominent position in the U.S. retail sector, operating a diverse portfolio of department stores under the renowned banners of Macy&#39;s, Bloomingdale&#39;s, and Bluemercury. With a 156-year history in the American retail landscape, Macy&#39;s, Inc. continues to adapt and evolve in a changing consumer discretionary environment. Recent economic headwinds, shifting consumer preferences, and the continued rise of e-commerce have pressured traditional retailers like Macy&#39;s, prompting a need for strategic innovation and operational efficiency adjustments.&nbsp;
<h2>Macy&#39;s Q2 Earnings Exceed Expectations Despite Sales Dip&nbsp;</h2>
Macy&#39;s earnings report for the second quarter of 2024 reflects the impact of current macroeconomic conditions on consumer spending. The company reported revenue of $4.94 billion, marking a 3.8% decrease compared to the $5.13 billion generated in the same period last year. This decline can be attributed, in part, to cautious consumer behavior and a more promotional retail environment. Despite these headwinds, Macy&#39;s delivered strong earnings performance, with adjusted diluted earnings per share (EPS) of $0.53, exceeding the $0.26 reported in Q2 2023 and surpassing Macy&#39;s analyst community&#39;s expectations of $0.29.
Comparable sales, a crucial metric for gauging retail performance, revealed a mixed picture. The Macy&#39;s brand experienced a 4.5% decline on an owned basis and a 3.6% decline on an owned plus licensed plus marketplace basis. Similarly, Bloomingdale&#39;s faced challenges with comparable sales down 1.1% and 1.4% on an owned basis and owned plus licensed plus marketplace basis, respectively.
The &quot;owned basis&quot; for comparable sales refers to sales generated solely from Macy&#39;s owned and operated stores and online platforms. The &quot;owned-plus-licensed-plus-marketplace basis&quot; includes those owned sales but also adds sales from departments licensed to third parties within Macy&#39;s stores and online, as well as sales from its online marketplace where third-party sellers can list products. However, Bluemercury, the company&#39;s beauty and spa chain, demonstrated resilience with comparable sales growth of 2.0% on an owned basis.
Notably, Macy&#39;s highlighted the continued success of its &quot;First 50&quot; initiative, which focuses on renovating and upgrading top-performing stores to enhance the customer experience. These locations achieved a second consecutive quarter of positive comparable sales, indicating the effectiveness of this strategy in driving growth and customer engagement.
Beyond comparable sales, other revenue streams contributed $159 million to Macy&#39;s top line, representing a $9 million increase compared to the prior year. This category includes revenue from credit card services and Macy&#39;s Media Network, the company&#39;s in-house advertising platform, both of which showed positive trends during the quarter.
A significant highlight of the Q2 results was the gross margin expansion, which reached 40.5%, a substantial 240 basis point improvement from the previous year. This can be attributed to several factors, including more disciplined discounting practices, reduced inventory shrinkage due to enhanced asset protection efforts, and the company&#39;s recent transition to cost accounting.
<h2>Adjusting Expectations: FY 2024 Guidance Update</h2>
Acknowledging the persistent challenges in the consumer discretionary spending environment, Macy&#39;s updated its full-year 2024 guidance. The company now expects net sales to range from $22.1 billion to $22.4 billion, reflecting a more cautious outlook than the previously anticipated range of $22.3 billion to $22.9 billion. This revised projection considers the more discerning consumer behavior and the increasingly promotional landscape observed in the year&#39;s first half.
Similarly, Macy&#39;s adjusted its expectations for comparable sales, forecasting a decline of approximately 2.0% to 0.5% for the full year. This reflects a more conservative outlook compared to the previous expectation of a decline of 1.0% to a gain of 1.5%.
Despite adjusting to sales expectations, Macy&#39;s reaffirmed its adjusted diluted EPS guidance of $2.55 to $2.90. This demonstrates the company&#39;s confidence in managing costs effectively and maintaining profitability during a challenging economic period. Macy&#39;s management reiterated that 2024 is a year of transition and investment, focused on laying the groundwork for sustainable, long-term growth.
<h2>Macy&#39;s Analyst Community&#39;s Perception</h2>
Macy&#39;s analyst community currently holds a mixed view of Macy&#39;s future prospects. The consensus rating for the stock is &quot;Hold&quot; with an average price target of $18.10, providing about an 18% upside for Macy&#39;s stock. While some analysts remain cautious due to the challenging macroeconomic environment and competitive pressures, others express optimism about the company&#39;s strategic initiatives and potential for long-term growth. Recent analyst reports have included upgrades and downgrades, reflecting the diversity of opinions on Macy&#39;s future performance.
Macy&#39;s Q2 2024 results and updated guidance showcase the company&#39;s resilience and adaptability in a challenging retail environment. Despite macroeconomic headwinds, the company delivered strong earnings performance, driven by improved gross margins and disciplined expense management.
While the lowered sales expectations reflect ongoing uncertainty in consumer spending, Macy&#39;s strategic initiatives, including investments in customer experience, store portfolio optimization, and financial prudence, position the company for long-term growth. Investors should continue to monitor Macy&#39;s progress in executing these strategies and navigating the evolving retail environment.
The article &quot;<a href="https://www.nasdaq.com/articles/macys-exhibits-resilience-demanding-retail-environment">Macy&#39;s Exhibits Resilience in a Demanding Retail Environment</a>&quot; first appeared on MarketBeat.

Price Target

Macy's Exhibits Resilience in a Demanding Retail Environment

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>TSLA</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>08/30/24</td>
<td>$215.00</td>
<td>$29.5K</td>
<td>9.8K</td>
<td>46.1K</td>
</tr>
<tr>
<td>M</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$15.00</td>
<td>$32.7K</td>
<td>19.5K</td>
<td>5.0K</td>
</tr>
<tr>
<td>AMZN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$180.00</td>
<td>$32.6K</td>
<td>26.3K</td>
<td>3.3K</td>
</tr>
<tr>
<td>BBWI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$35.00</td>
<td>$514.8K</td>
<td>1.4K</td>
<td>2.2K</td>
</tr>
<tr>
<td>AMRK</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$35.00</td>
<td>$260.0K</td>
<td>5.9K</td>
<td>2.0K</td>
</tr>
<tr>
<td>PDD</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/30/24</td>
<td>$130.00</td>
<td>$30.8K</td>
<td>5.0K</td>
<td>1.4K</td>
</tr>
<tr>
<td>BABA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/06/24</td>
<td>$76.00</td>
<td>$32.9K</td>
<td>208</td>
<td>1.2K</td>
</tr>
<tr>
<td>CPRI</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$20.00</td>
<td>$37.3K</td>
<td>29.2K</td>
<td>1.1K</td>
</tr>
<tr>
<td>SBUX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$75.00</td>
<td>$43.8K</td>
<td>13.8K</td>
<td>1.0K</td>
</tr>
<tr>
<td>CVNA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/30/24</td>
<td>$155.00</td>
<td>$33.0K</td>
<td>2.6K</td>
<td>870</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we observe a put option trade with neutral sentiment. It expires in 4 day(s) on August 30, 2024. Parties traded 50 contract(s) at a $215.00 strike. The total cost received by the writing party (or parties) was $29.5K, with a price of $590.0 per contract. There were 9837 open contracts at this strike prior to today, and today 46163 contract(s) were bought and sold. 
• Regarding M (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>), we observe a put option sweep with bearish sentiment. It expires in 144 day(s) on January 17, 2025. Parties traded 245 contract(s) at a $15.00 strike. This particular put needed to be split into 162 different trades to become filled. The total cost received by the writing party (or parties) was $32.7K, with a price of $133.0 per contract. There were 19532 open contracts at this strike prior to today, and today 5095 contract(s) were bought and sold. 
• Regarding AMZN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), we observe a call option trade with bearish sentiment. It expires in 25 day(s) on September 20, 2024. Parties traded 100 contract(s) at a $180.00 strike. The total cost received by the writing party (or parties) was $32.6K, with a price of $326.0 per contract. There were 26364 open contracts at this strike prior to today, and today 3383 contract(s) were bought and sold. 
• Regarding BBWI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>), we observe a call option trade with bullish sentiment. It expires in 25 day(s) on September 20, 2024. Parties traded 2200 contract(s) at a $35.00 strike. The total cost received by the writing party (or parties) was $514.8K, with a price of $234.0 per contract. There were 1426 open contracts at this strike prior to today, and today 2231 contract(s) were bought and sold. 
• For AMRK (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMRK#NASDAQ">AMRK</a>), we notice a put option trade that happens to be bearish, expiring in 25 day(s) on September 20, 2024. This event was a transfer of 2000 contract(s) at a $35.00 strike. The total cost received by the writing party (or parties) was $260.0K, with a price of $130.0 per contract. There were 5950 open contracts at this strike prior to today, and today 2021 contract(s) were bought and sold. 
• Regarding PDD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>), we observe a put option trade with bullish sentiment. It expires in 4 day(s) on August 30, 2024. Parties traded 10 contract(s) at a $130.00 strike. The total cost received by the writing party (or parties) was $30.8K, with a price of $3082.0 per contract. There were 5059 open contracts at this strike prior to today, and today 1413 contract(s) were bought and sold. 
• For BABA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), we notice a put option sweep that happens to be bullish, expiring in 11 day(s) on September 6, 2024. This event was a transfer of 1220 contract(s) at a $76.00 strike. This particular put needed to be split into 14 different trades to become filled. The total cost received by the writing party (or parties) was $32.9K, with a price of $27.0 per contract. There were 208 open contracts at this strike prior to today, and today 1285 contract(s) were bought and sold. 
• Regarding CPRI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPRI#NYSE">CPRI</a>), we observe a put option sweep with bullish sentiment. It expires in 144 day(s) on January 17, 2025. Parties traded 250 contract(s) at a $20.00 strike. This particular put needed to be split into 21 different trades to become filled. The total cost received by the writing party (or parties) was $37.3K, with a price of $145.0 per contract. There were 29266 open contracts at this strike prior to today, and today 1118 contract(s) were bought and sold. 
• Regarding SBUX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), we observe a put option sweep with bearish sentiment. It expires in 144 day(s) on January 17, 2025. Parties traded 600 contract(s) at a $75.00 strike. This particular put needed to be split into 30 different trades to become filled. The total cost received by the writing party (or parties) was $43.8K, with a price of $73.0 per contract. There were 13846 open contracts at this strike prior to today, and today 1009 contract(s) were bought and sold. 
• Regarding CVNA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>), we observe a call option trade with bullish sentiment. It expires in 4 day(s) on August 30, 2024. Parties traded 87 contract(s) at a $155.00 strike. The total cost received by the writing party (or parties) was $33.0K, with a price of $380.0 per contract. There were 2696 open contracts at this strike prior to today, and today 870 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

AMRK

BABA

BBWI

CPRI

CVNA

Citigourp Global Markets 2% Protected Notes Linked To The Djia

SBUX

TSLA

10 Consumer Discretionary Stocks With Whale Alerts In Today's Session

Shares of Macy&#8217;s Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) remained volatile in early trading on Thursday, after the company reported <a href="https://www.benzinga.com/news/earnings/24/08/40501259/s-p-500-nasdaq-surge-after-fed-minutes-point-to-likely-rate-cut-in-september-fear-greed-index-remai">weak quarterly sales</a>.
The company reported its results amid an <a href="https://www.benzinga.com/earnings">exciting earnings season</a>. Here are some key analyst takeaways.
JPMorgan On Macy&#8217;s
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/586bcbd9351b9b0001ab738c/matthew-boss">Analyst Matthew Boss</a> reiterated an Overweight rating, while cutting the price target from $24 to $23.
Macy&#8217;s reported second-quarter adjusted earnings of 53 cents per share, surpassing Street expectations of 29 cents per share. Despite a steeper-than-expected decline in same-store sales, the company benefited from a 240 basis point (bps) gross margin expansion to 40.5%, according to a note from Boss.
"All doors (including the First 50) and all regions saw a sequential softening in comp performance in the middle of the quarter (late June) and into early July," which management attributed to soft consumer spend due to the ongoing macroeconomic uncertainty and "an increasingly complex news cycle," the analyst stated. He added, however, that promotions and fashion/newness translated to "encouraging" demand trends in late July and so far in August.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
Telsey Advisory Group On Macy&#8217;s
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5888c53977f9dd0001877a22/dana-telsey">Analyst Dana Telsey</a> reiterated a Market Perform rating, while reducing the price target from $21 to $17.
Macy&#8217;s delivered a strong earnings beat due to better-than-expected expense control in the quarter and earlier asset sales, Telsey said. Management's revised guidance for the year reflects continued macro challenges and elevated promotions, she added.
Macy's witnessed "continued strength in fragrances along with green shoots in the women&#8217;s ready-to-wear category," the analyst stated. "We remain encouraged by new CEO Tony Spring&#8216;s Bold New Chapter strategy with plans to close 150 Macy&#8217;s stores, grow luxury stores by 20%, and unlock $600MM-$750MM from asset monetization efforts over the next three years," she further wrote.
Goldman Sachs On Macy&#8217;s
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/60eef53155f722000105d101/brooke-roach">Analyst Brooke Roach</a> reaffirmed a Buy rating, while cutting the price target from $23 to $20.
Macy's results were disappointing, with a sharper-than-expected deceleration, "despite management's idiosyncratic initiatives," Roach said. "That said, we were pleased by management's margin control in the quarter, with 2Q profit outperforming and full year EPS guidance reaffirmed despite a significant cut to the full year sales outlook," she added.
Management's guidance continues to reflect a sequential improvement in reported results into the back half of the year, the analyst stated. There are "several reasons for sequential optimism from here," she further wrote.
M Price Action: Shares of Macy&#8217;s had declined by 0.26% to $15.41 at the time of publication on Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/08/40509090/august-services-growth-exceeds-expectations-as-manufacturing-slumps-inflation-gradually-eases-to-nor">August Services Growth Exceeds Expectations As Manufacturing Slumps: Inflation Gradually Eases &#8216;To Normal Levels&#8217;</a></li>
</ul>
Photo: Shutterstock

Reiteration

Macy's Strong Earnings Tempered By Weak Sales, But Analysts See 'Green Shoots' Emerging

Morgan Stanley analyst Alexandra Walvis maintains Macy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) with a Equal-Weight and lowers the price target from $18 to $17.

Morgan Stanley Maintains Equal-Weight on Macy's, Lowers Price Target to $17

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page.</a>
<ul>
<li>Evercore ISI Group raised the price target for Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) from $78 to $80. Evercore ISI Group analyst Greg Melich maintained an Outperform rating. Walmart shares gained 0.9% to close at $75.24 on Wednesday. <a href="https://www.benzinga.com/quote/WMT/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Oppenheimer raised the price target for Toll Brothers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) from $157 to $168. Oppenheimer analyst Tyler Batory maintained an Outperform rating. Toll Brothers shares gained 5.6% to close at $141.03 on Wednesday. <a href="https://www.benzinga.com/quote/tol/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley raised EastGroup Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) price target from $158 to $186. Morgan Stanley analyst Stephen Byrd maintained an Equal-Weight rating. EastGroup Properties shares gained 0.8% to close at $184.67 on Wednesday. <a href="https://www.benzinga.com/quote/EGP/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Wells Fargo boosted the price target for SentinelOne, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>) from $19 to $29. Wells Fargo analyst Andrew Nowinski upgraded the stock from Equal-Weight to Overweight. SentinelOne shares gained 2.3% to close at $24.56 on Wednesday. <a href="https://www.benzinga.com/quote/S/analyst-ratings">See how other analysts view this stock.</a></li>
<li>HC Wainwright &amp; Co. lowered Cocrystal Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COCP#NASDAQ">COCP</a>) price target from $10 to $7. HC Wainwright &amp; Co. analyst Raghuram Selvaraju maintained a Buy rating. Cocrystal Pharma shares closed at $1.91 on Wednesday. <a href="https://www.benzinga.com/quote/COCP/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Citigroup raised The TJX Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>) price target from $110 to $128. Citigroup analyst Paul Lejuez downgraded the stock from Buy to Neutral. TJX shares gained 6.1% to close at $120.23 on Wednesday.<a href="https://www.benzinga.com/quote/TJX/analyst-ratings"> See how other analysts view this stock.</a></li>
<li>BMO Capital decreased the price target for Urban Outfitters, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URBN#NASDAQ">URBN</a>) from $42 to $39. BMO Capital analyst Simeon Siegel maintained a Market Perform rating. Urban Outfitters shares gained 3.1% to close at $41.48 on Wednesday. <a href="https://www.benzinga.com/quote/URBN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird cut Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) price target from $165 to $152. Baird analyst William Power maintained an Outperform rating. Snowflake shares gained 2.4% to close at $135.06 on Wednesday. <a href="https://www.benzinga.com/quote/SNOW/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Telsey Advisory Group cut Macy&#8217;s, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) price target from $21 to $17. Telsey Advisory Group analyst Dana Telsey maintained a Market Perform rating. Macy&#8217;s shares fell 12.9% to close at $15.45 on Wednesday. <a href="https://www.benzinga.com/quote/M/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird slashed Zoom Video Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) price target from $84 to $77. Baird analyst William Power maintained an Outperform rating. Zoom Video shares gained 1.9% to close at $60.23 on Wednesday. <a href="https://www.benzinga.com/quote/ZM/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Read More: 
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<li><a href="https://www.benzinga.com/news/earnings/24/08/40501259/s-p-500-nasdaq-surge-after-fed-minutes-point-to-likely-rate-cut-in-september-fear-greed-index-remai">S&amp;P 500, Nasdaq Surge After Fed Minutes Point To Likely Rate Cut In September: Fear &amp; Greed Index Remains In &#8216;Neutral&#8217; Zone</a></li>
</ul>

Comments

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