Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, August 12, 2011

Article Excerpt

MACY’S INC., $25.55, New York symbol M, operates 850 Macy’s and Bloomingdale’s department stores in 45 states. It also sells goods over the Internet. The company reported higher-than-expected sales and earnings this week. In the three months ended July 30, 2011, Macy’s earnings rose 63.9%, to $241 million from $147 million a year earlier. Earnings per share rose 57.1%, to $0.55 from $0.35, on more shares outstanding. That was well ahead of the consensus estimate of $0.48 a share. Sales rose 7.3%, to $5.9 billion from $5.5 billion. That beat the consensus sales estimate of $5.8 billion. Same-store sales rose 6.4%. The company continues to benefit from its plan to tailor its merchandise to local tastes. Its private-label products are also selling well. In addition, Macy’s has been improving its customer service. That helps build customer loyalty. The company expects its full-year same-store sales to rise by 4.8% to 5.1%. That’s up from its prediction of 3% at the start of the…