Macy's to close 150 stores in new turnaround effort, forecasts weak 2024 sales

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Go back to Macy's to close 150 stores in new turnaround effort, forecasts weak 2024 sales

TD Cowen Downgrades Macy's (M) to Market Perform, 'Prudent Bold New Changes Will Take Time to Drive Upside to Guidance'

February 29, 2024 5:29 AM EST

TD Cowen analyst Oliver Chen downgraded Macy's (NYSE: M) from Outperform to Market Perform with a price target of $20.00 (from $23.00).

The analyst comments "We like changes ahead including 150 Macy's closures, store growth across luxury (+30 Bluemercury & +15 Bloomies) and small format (+30), and private label and inventory... More

Macy's (M) PT Raised to $22 at Citi, 'We Lean More Positive but Stay Neutral'

February 28, 2024 3:19 AM EST

Citi analyst Paul Lejuez raised the price target on Macy's (NYSE: M) to $22.00 (from $18.00) while maintaining a Neutral rating.

The analyst comments "4Q GM/EPS beat consensus though sales were still weak (comps -5%) and mgmt is looking for a sales decline in... More

CFRA Downgrades Macy's (M) to Hold

February 27, 2024 12:55 PM EST

CFRA analyst Zachary Warring downgraded Macy's (NYSE: M) from Buy to Hold with a price target of $18.00 (from $19.00).

The analyst comments "We lower our 12-month price target by $1 to $18, based on 7.2x our FY 25 (Jan.) EPS estimate and in line with the company's... More