MACY’S INC. $35(New York symbol M, Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 413.2 million; Market cap: $14.6 billion; Price-to-sales ratio: 0.5; Dividend yield: 2.3%; TSINetwork Rating: Average; www.macysinc.com) reported lower-than-expected sales at its 840 department stores for June 2012.
During the month, same-store sales rose 1.2% from June 2011. That missed the consensus estimate of a 1.9% increase. The weaker U.S. economy has hurt consumer spending. As well, renovations have cut sales at its flagship store in New York City.
However, the company’s websites continue to grow strongly: online sales jumped 31.8% in June 2012. Moreover, Macy’s still expects its same-store sales to rise 3.7% for its full fiscal year, which ends January 31, 2013.
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The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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We are continuously in the process of improving our sites and services. If any new features or policies require a change to this current policy, we will post a clear notice of this change on pages of our site where the privacy policy appears. The principle behind this privacy policy is to collect information with your knowledge and consent.
What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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