公司战略和业务优化 - 公司将2024财年视为转型和投资年，实施新战略“A Bold New Chapter”[45] - 公司计划在未来三年关闭约150家效益不佳的Macy's门店，以优化资产并集中投资于约350家潜力更大的门店[45] 数字化和营销策略 - 公司在数字化方面取得进展，数字访问量增加了2.3%，但转化率下降了14个基点[49] - 第一季度，Macy's推出了婴儿注册服务，包括超过150个新品牌，数字访问量增加了2.3%[49] 财务表现 - Macy's的净销售额为4846万美元，较去年同期下降了1.2%[59] - Macy's的毛利率为39.2%，较去年同期下降了80个基点[59] - 公司的净利润为6200万美元，较去年同期下降了9300万美元[59] - 每股稀释收益为0.22美元，调整后的每股稀释收益为0.27美元[59] 资本支出和股东回报 - 公司在2024年第一季度的资本支出为2.29亿美元，较2023年第一季度的2.96亿美元减少0.67亿美元[68] - 公司于2024年5月16日宣布，董事会宣布每股普通股定期季度股息为17.37美分，将于2024年7月1日支付给Macy's股东[71] 资产和负债情况 - 公司于2024年5月4日的资产总额为7.21亿美元，负债总额为12.35亿美元[77] 风险管理和合规 - 公司首席执行官和首席财务官于2024年5月4日进行了公司披露控制和程序有效性评估，认为披露控制和程序有效，能够提供合理保证，确保信息按照SEC规定的时间范围内记录、处理、汇总和报告[88] - 公司内部控制未发生对财务报告的重大影响或可能重大影响的变化[89] - 公司参与各种与业务正常运作相关的诉讼，预计这些诉讼不会对公司的财务状况或业绩产生重大不利影响[91]

公司战略 - 公司启动名为“A Bold New Chapter”的战略转型，旨在通过运营现代化和技术整合来加速财务改善 [1][3] - 战略核心包括关闭150家表现不佳的门店并升级350家其他门店，以优化房地产组合并提升盈利能力 [3] - 计划在2024年至2026年间通过资产货币化计划实现2.5亿至3.65亿美元的收益，并在2015年至2023年间已通过房地产货币化筹集超过24亿美元 [7] 运营与技术 - 公司利用人工智能等尖端技术现代化运营，以简化供应链和优化库存管理 [1][3] - 通过“First 50”试点计划在精选门店测试新零售策略，在2024财年第一季度实现可比销售额增长3.4%并提升客户满意度 [6] - 设定2025年及以后的宏伟目标，包括可比销售额实现低个位数年度增长，调整后EBITDA实现中个位数年度增长，并恢复至疫情前的年度自由现金流水平 [4] 市场表现与客户体验 - 公司股价在过去三个月内上涨13.2%，超过行业6.8%的增长率 [2] - 在全渠道购物体验方面取得显著进展，包括改造数字足迹和营销策略，并通过引入第三方卖家的数字市场来支持该战略 [5] - 增强全渠道存在感，整合线上和店内体验，旨在提升所有平台的客户旅程，增加客户忠诚度和转化率 [5]

Macy's (M) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.The upward trend in estimate revisions for this department store operator reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between t ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use fundamental analysis and traditional valuation m ...

Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth potenti ...

Key PointsMacy's Q1 2024 earnings show a mixed performance, with declining sales overall but notable growth in its luxury brands.The company's "Bold New Chapter" turnaround plan focuses on closing underperforming stores, investing in remaining locations, and expanding its digital presence.Macy's faces the challenge of maintaining momentum in a climate of persistent inflation and potential economic slowdown, requiring a continued focus on strategic execution and adaptability. 5 stocks we like better than Mac ...

Economic pressures are driving shoppers to scrutinize their discretionary spending more carefully, according to Macy’s, with even high-income customers showing increased selectivity in their purchases of luxury items.On a call with analysts Tuesday (May 21) discussing the company’s first-quarter 2024 financial results, Macy’s Chairman and CEO Tony Spring noted that, amid wage and job growth, shoppers continue to feel financial pressure, prompting them to “carefully scrutinize their discretionary purchases.” ...

Macy’s, Inc. (M) has reported first-quarter fiscal 2024 results, wherein the top and bottom lines surpassed the Zacks Consensus Estimate. However, total revenues and earnings declined from the year-ago quarter’s reported figures. Comparable sales fell on an owned basis and an owned-plus-licensed basis.M shares have gained 29% in the past six months compared with the industry’s 25% growth.Sales & Earnings PictureMacy’s, currently carrying a Zacks Rank #3 (Hold), reported adjusted earnings of 27 cents per sha ...

财务数据和关键指标变化 - 第一季度净销售额为48亿美元,接近公司预期的高端 [2] - 调整后每股收益为0.27美元,超出公司预期 [2] 各条业务线数据和关键指标变化 - Macy's业务与预期一致,同店销售下降0.4%,其中首50家门店同店销售增长3.4% [11] - Bloomingdale's同店销售增长0.3%,净销售额增长0.5% [30] - Bluemercury同店销售增长4.3%,净销售额增长4% [30] 各个市场数据和关键指标变化 - 公司认为消费者在经济压力下变得更加谨慎,但公司有信心通过执行"全新篇章"战略实现盈利增长 [6][8] 公司战略和发展方向及行业竞争 - 公司正在执行"全新篇章"战略,包括加强Macy's品牌、加速奢侈品增长、简化和现代化端到端运营 [8] - 公司正在测试和实施各项举措,如提升商品、优化门店人员配置、增加门店活动等,并取得初步成效 [11][13][14] - 公司正在优化私有品牌组合,并计划在2025财年全面刷新家居私有品牌 [15][16] - 公司正在加强数字业务,包括优化客户体验、扩大Marketplace业务等 [19] - 公司正在评估新门店机会,包括Bloomingdale's和Bluemercury [9][23] 管理层对经营环境和未来前景的评论 - 管理层认为消费者在经济压力下变得更加谨慎,但公司有信心通过执行"全新篇章"战略实现盈利增长 [6][8][39] - 公司预计2024财年将是过渡和投资年,但对战略执行进度感到鼓舞 [25] 问答环节重要的提问和回答 问题1 **Matthew Boss 提问** 询问首50家门店的关键举措及其带来的影响,以及未来扩展计划 [46] **Tony Spring 回答** 公司在人员、商品、陈列和体验方面进行了多项改善,取得了良好成效,未来将审慎评估扩展计划 [47] 问题2 **Warren Cheng 提问** 询问供应商的参与度是否带来了商品组合或毛利率的影响 [53] **Tony Spring 回答** 供应商的积极参与帮助公司提升了商品差异化和全价销售,但目前仍处于早期阶段 [54] 问题3 **Dana Telsey 提问** 询问不同收入水平消费者的表现差异,以及小型门店的表现和未来计划 [78][81] **Tony Spring和Adrian Mitchell回答** 高端消费者更加谨慎,但公司正在根据不同客户需求调整商品和营销;小型门店表现良好,公司将继续扩展这一业态 [79][81]