Macy’s Same-store Sales Take A Dive In 1q15 – Yahoo Finance

What went right? In 1Q15, Macys benefited from strong sales in dresses, furniture, and mattresses. The company also gained from the launch of its new private brand, Thalia. According to Macys, its Thalia brand was designed to attract Hispanic customers. Itsappealing to a larger customer base. Store update As previously planned, the companys store openings in fiscal 2015 include a new Macys store in Ponce, Puerto Rico, a high-end Bloomingdales store in Honolulu, Hawaii, a new Bloomingdales outlet store in Manhattan, and four Macys Backstage off-price stores in the New York City metro area. Macys also plans to open 18 Bluemercury locationsincluding four locations that were opened in 1Q15.
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Macy’s 1Q15 Earnings Lag Wall Street Analysts’ Estimates – Yahoo Finance

Department stores first quarter saleslike Kohls (KSS), J.C. Penney (JCP), and Sears (SHLD)will likelybe hit by adverse weather and the West Coast port dispute. Multiline retailers, like Macys, account for ~6.3% of the portfolio holdings of the Consumer Discretionary Select Sector SPDR Fund (XLY). Macys disclosed that the companys reorganization in its merchandising, planning, and marketing functions caused some disruption in the quarter as the workforce in those areas adjusted to new roles and procedures. Weak guidance The company still expects its fiscal 2015 diluted EPS to be in the$4.70$4.80 range. However, the company expects its diluted EPS to decline in 2Q15. Macys continues to expect total sales growth of ~1% in fiscal 2015.
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