BUZZ-Street View: Macy's forecast raise boosts investor confidence in turnaround

Reuters12-05 03:12
BUZZ-Street View: Macy's forecast raise boosts investor confidence in turnaround

** Macy's M.N raised its annual sales and profit targets on Wednesday, as the department store operator begins to see returns from its months-long turnaround efforts

** At least 4 brokerages raised PT, median PT of 13 brokerages is $22 - data compiled by LSEG

RESILIENT CONSUMER DEMAND DESPITE TARIFF PRESSURE

** Jefferies ("Buy", PT:$26) says tariff impacts have been better than expected, while core gross margin percentage also expanding

** Telsey Advisory Group ("Market perform", PT:$25) says rightsizing store base should improve long-term profitability

** Brokerage adds sales, profitability growth remain more limited due to macro pressures, traffic and tariff headwinds, and a competitive retail landscape

** TD Cowen ("Hold", PT:$21) notes Macy's is benefiting from consumer resilience within the majority of its middle-to-upper income consumer base

** Adds results provide cautious optimism around margin outlook heading into Q4

(Reporting by Koyena Das)

((Koyena.das@thomsonreuters.com))

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