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Macy's : Opening Bell 1.11.19

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01/11/2019 | 08:20am EST

The Opening Bell is powered by The Water Coolest.

Rain on your parade[The Water Coolest]

January 10th, 2019 will go down as one of the darkest days in Macy’s history. And that’s saying a lot considering a giant Cat in the Hat balloon once put a woman in a coma following an accident during the company’s namesake Thanksgiving Day parade.

Macy’s “Black Thursday” was the byproduct of lower-than-anticipated holiday sales for a large part of December following a solid Black Friday and Cyber Monday. Shares of the retailer fell more than 18% on the news. And they weren’t alone …

Shares of Victoria’s Secret parent, L Brands, also got crushed following a 6% drop in sales during December despite heavy discounts. The brand blames changing consumer tastes. Because surely it has nothing to do with the company’s systemic fat shaming and its trans-bashing CMO.

It’s not all bad

Of course, there are winners, there are losers … and then there is Amazon. Holiday sales on the e-commerce giant grew a whopping 17% this year. Wipe that sh*t eating grin off of your face, Bezos.

But Amazon wasn’t the only retailer who convinced consumers to shamelessly express their love with material items at an alarming rate. Walmart’s less “trailer-trash” rival (read: Target) posted a 5.7% same-store revenue increase this holiday season. Target credits in-store pick-up and strategically filling the void that Toys R Us left in the brick and mortar landscape.

Despite all this, Target’s shares fell almost 3%. Apparently, the Street wasn’t too jazzed about the big box retailer not raising its guidance going forward.

Macy’s stock has its worst day in history [CNN]

IN OTHER NEWS

BlackRock plans to lay off 500 employees Ford and Jaguar announced massive job cuts in Europe Jeff Vinik will resurrect Vinik Asset Management Jerome Powell reiterates the Fed’s patience in 2019

But wait, there’s more! For all of today’s markets and business news, get The Water Coolest delivered directly to your inbox, for free. Signup now.

(c) 2019 Breaking Media, Inc. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2019 25 022 M
EBIT 2019 1 829 M
Net income 2019 1 196 M
Debt 2019 3 740 M
Yield 2019 6,26%
P/E ratio 2019 6,18
P/E ratio 2020 7,18
EV / Sales 2019 0,45x
EV / Sales 2020 0,43x
Capitalization 7 527 M
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Mean consensus HOLD
Number of Analysts 19
Average target price 27,5 $
Spread / Average Target 12%
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Managers
NameTitle
Jeffrey Gennette Chairman & Chief Executive Officer
Harry A. Lawton President
Robert B. Harrison Chief Operations Officer
Paula A. Price Chief Financial Officer
Naveen Krishna Chief Technology Officer
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