Macy’s, Inc (NYSE:M) reported on Thursday that its sales at stores open almost a year moved up 1.2% in June as a outcome of an economic environment that it reported was stagnant at best.
Thomson Reuters analysts poll forecasted that key same-store sales moved up by 1.9%.
The operator of Macy’s and Bloomingdale’s department stores also mentioned less spending by tourists in key cities for the lower-than-forecasted results. Chief Executive Officer Terry Lundgren reported that key renovations at the corporation’s flagship store in New York also hurt sales.
Macy’s in August aims to open the primary phase of what will be the world’s biggest women’s shoe department.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Saks Inc (NYSE:SKS) increased +2.47% to settle at $11.19, Sears Holdings Corporation (NASDAQ:SHLD) moved up +2.62% to end at $61.81 while The Bon-Ton Stores, Inc. (NASDAQ:BONT) plunged -6.12% to finish on Thursday at $7.82.
Macy’s, Inc. (NYSE:M) last session volume of 10.18 million shares was higher than its average volume of 6.34 million shares. The stock after opening at $33.38 hit high price of $34.92 and then closed at $34.27 by scoring +2.73%.
Macy’s generated revenue of 26.66 billion in the following twelve months and earned $1.31 billion. The Company showed a positive 4.90% in the net profit margin and as well as in its operating margin which remained 9.27%. Company’s annual sales growth for the past five year was -0.42%.
The Macy’s past twelve months price to sales ratio was 0.53 and price to cash ratio remained 7.49. As far as the returns are concern, the Macy’s return on equity was recorded as 22.28% and dropped 8.46% return on investment while its return on asset stayed at 6.26%.
The stock showed weekly upbeat performance of +3.41% which was maintained for the month at -5.80%. Likewise the negative performance for the quarter was recorded as -15.76% and for the year was +20.80% while the YTD performance remained at +7.63%.
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