Macy's Q1 earnings tops estimates, but needs to generate more sales growth analyst says
Macy's reported first quarter results that topped Wall Street estimates on both the top and bottom lines. The retailer also raised its full-year guidance.
Morningstar equity analyst David Swartz says the quarter was "a little bit better than expected," but he notes that expectations were low and the comparable sales were favorable.
Swartz says one of the big issues Macy's (M) needs to address is operating costs, arguing that it needs to reduce costs and boost sales. He thinks Macy's will need to close more stores, but that it will take more time for CEO Antony Spring to put his turnaround plan into place.
When it comes to the $24 per share takeover offer from Arkhouse Management and Brigade Capital Management, Swartz notes that his fair value estimate is $25, so the offer is "reasonable." He doesn't think Macy's wants to sell, but thinks the company should sell "if the offer is strong enough."
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Видео Macy's Q1 earnings tops estimates, but needs to generate more sales growth analyst says канала Yahoo Finance
Morningstar equity analyst David Swartz says the quarter was "a little bit better than expected," but he notes that expectations were low and the comparable sales were favorable.
Swartz says one of the big issues Macy's (M) needs to address is operating costs, arguing that it needs to reduce costs and boost sales. He thinks Macy's will need to close more stores, but that it will take more time for CEO Antony Spring to put his turnaround plan into place.
When it comes to the $24 per share takeover offer from Arkhouse Management and Brigade Capital Management, Swartz notes that his fair value estimate is $25, so the offer is "reasonable." He doesn't think Macy's wants to sell, but thinks the company should sell "if the offer is strong enough."
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
- Get the latest news and data at finance.yahoo.com
- Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
- Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance
Видео Macy's Q1 earnings tops estimates, but needs to generate more sales growth analyst says канала Yahoo Finance
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