Macy's: annual targets increased
(CercleFinance.com) - Macy's announces an increase in its annual targets, now targeting adjusted EPS of 3.
59 to 3.69 dollars (vs. 3.38 to 3.63 dollars previously), as a result of a strong holiday season and the tax reform in the United States.
The distributor has tightened its target range of annual sales, expecting them to fall by 2.4% to 2.7% on a like-for-like basis and for its directly operated stores, following a 1% growth observed in the two months of November and December combined.
Macy's has also announced measures to improve its organizational efficiency, including the closure of 11 stores at the beginning of the year. These steps are expected to generate annual cost savings of 300 million dollars, which will be reinvested in its operations.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
59 to 3.69 dollars (vs. 3.38 to 3.63 dollars previously), as a result of a strong holiday season and the tax reform in the United States.
The distributor has tightened its target range of annual sales, expecting them to fall by 2.4% to 2.7% on a like-for-like basis and for its directly operated stores, following a 1% growth observed in the two months of November and December combined.
Macy's has also announced measures to improve its organizational efficiency, including the closure of 11 stores at the beginning of the year. These steps are expected to generate annual cost savings of 300 million dollars, which will be reinvested in its operations.
Copyright (c) 2018 CercleFinance.com. All rights reserved.