Miércoles, 22 Noviembre, 2017

Macy's warns about profit margins, sending shares lower

Macy's warns about profit margins, sending shares lower Macy's warns about profit margins, sending shares lower
Malita Javier | 07 Junio, 2017, 13:01

At the company's annual investor day, Chief Financial Officer Karen Hoguet said that second-quarter gross margins are running about 1 percentage point below what they were a year ago. It also underscored the challenges ahead for traditional chains, particularly clothing retailers, which are seeing increasing competition from online leader Amazon.com and people's changing preferences away from clothing and more toward experiences.

Macy's shares dropped 8.2 percent, or $1.96, to close at $21.90.

Apple Pay is changing the way we handle money with iOS 11
The app already just lets you send and receive money from anyone on any phone, provided they've got the app on their device. When their operating system upgrades in the fall to iOS 11 , the new feature will automatically appear in Apple messages.

Konik said in a note that Macy's is expecting its gross profit margins in the second quarter to be down 1 percent from a year ago.

Macy's (M) led the S&P 500 lower today after maintaining its earnings guidance at its investor day today, but pointing to weaker margins. The company is also looking to monetize its real estate assets, and hired Brookfield Asset Management in November to create development plans for about 50 Macy's real estate properties.

Justin Bieber's new single 2U to lead to LP?
And now the 23-year-old Canadian megastar has announced that his new single will be dropping this Friday (June 9th). Who knows, with the Guetta addition, Bieber could rule the entire top 3 next week.

The margin was 39.4 percent in the fiscal year ended January 28, and 40.9 percent in the fiscal 2016 second quarter.

Macy's is "doing everything it can to be productive", Hoguet said, adding that she hoped cost reduction efforts would improve margins.

Apple anuncia el lanzamiento del iMac Pro
Este traerá mejoras en el sistema de mensajería instantánea e incorpora pagos directos entre personas a través de Apple Pay . Durante la WWDC , Apple también presentó novedades para sus computadores de escritorio.

Another executive on Tuesday's call told investors that Macy's still has too much inventory in stores and that the company was working on reducing this.

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