https://x.com/DeItaone/status/1861018972759408777
Hiljaiseksi on käynyt ketju, mutta laitetaan tänne, kun huomasin
MACY’S SHARES DOWN ABOUT 2% PREMARKET AFTER CO DELAYS Q3 REPORT ON IDENTIFYING ACCOUNTING ISSUE
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Macy’s tiedotti että yhtiön työntekijä oli tahallisesti jättänyt raportoimatta 132-152 miljoonan edestä kuljetuskustannuksia asiakkaille Q4 2021 - Q3 2024. Tällä on arvioitu olleen 20 basispointin nostava vaikutus bruttokatteeseen, jonka Macy’s on raportoinut. Seuraava analyytikkopuhelu kannattaa kuunnella tarkkaan.
Marketwatchilla oli asiallinen uutinen tästä:
https://www.marketwatch.com/articles/5-things-to-know-macy-s-accounting-earnings-ca959138
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Macy’s julkaisi tänään Q3 tulokset ja analyytikkopuhelun. Analyytikkopuhelun slidet.
Macy’s on vuoden aikana pilotoinut uutta myymäläkonseptia, jossa asiakaspalveluun on panostettu. Näiden “First 50” myymälöiden liikevaihto on kasvanut ja asiakastyytyväisyys on saavuttanut kaikkien aikojen huippulukeman. Myymälöiden kokonaislukumäärää tullaan vähentämään ja lopuille “Go Forward” -myymälöille tullaan soveltamaan pilotoinnissa saatuja oppeja.
Macy’sin bisneksessä on voimakas operatiivinen vipu, eli muutokset liikevaihdossa näkyvät voimakkaasti tuloksessa. Tältä vuodelta tuloslaskelman voitot ovat tulleet pelkästään omaisuuden myynnistä, mutta muistetaan että Q4 on ylivoimaisesti merkittävin kvartaali tuloksenteon kannalta. Konsernin sisällä Bloomingdale’s ja Bluemercy ovat pärjänneet hyvin. Kummankin ketjun liikevaihto on kasvanut. Macy’s-ketjun liikevaihto puolestaan on laskenut myymälöiden myynnin seurauksena.
Kirjanpitovirheistä: työntekijä toimi yksin, kirjasi tahallisesti asiakkaille menevien lähetysten kuljetuskustannuksia väärin, eikä tavoitellut omaa etuaan. Työntekijä ei ole enää konsernin palveluksessa. Hänen tekemistä virheellisistä merkinnöistä ei ole koitunut harmia tavarantoimittajille ja kassavirtalaskelmat täsmäävät.
Ohjeistus:
Comparable O+L+M tarkoittaa owned + licenced + marketplace vertailukelpoisen myynnin kehitystä.
Bold New Chapter on uuden johdon muutosohjelman nimi. Ohjelman tavoitteet on kuvattu tällä slidella:
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Macy’s has warned that Q4 sales have not picked up.
Macy’s sounds alarm on its holiday sales performance
Now that the holiday season has come to an end, Macy’s has provided a grim update on its fourth-quarter sales performance, which will be unveiled in early March.
The company warned that its comparable sales were roughly flat quarter-to-date as its “non-First 50 locations,” inclusive of “non-go-forward locations,” performed below expectations and generated negative comparable sales, according to a new press release.
https://www.thestreet.com/retail/macys-sounds-alarm-on-holiday-sales-performance
The stock price has fallen ~23% from its highs of a couple of weeks ago:
Here’s the company’s statement on the matter:
Here’s the most important part:
$0.86 earnings per share were made in the first three quarters, and now an additional $1.40 - $1.65 is expected, meaning we would reach the $2.26 - $2.51 range that was given in the Q3 results. P/E 5.5 - 6.1. It feels like the market is overreacting again.
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Macy’s is always a yo-yo. It’s rising again from the earnings call, just like last time.
Macy’s today released its Q4 results and related presentation.
Full-year earnings were 582 million ($2.10 per share) and free cash flow was 679 million. The current year’s earnings are expected to be somewhat similar to the previous year. A shift towards a smaller but relatively more profitable company is underway, and the sale of business premises that are more valuable as real estate than as business operations will continue in the current year.
Macy’s balance sheet reached a post-pandemic record high in terms of equity ratio (27.75%) and low net gearing ratio (32.36%). Return on equity was 13.65% and equity per share was $16.4. Net debt remaining at the end of Q4 was 1473 million.
Free cash flow yield:
679 million free cash flow.
1473 million net debt.
Share price: $13.41
Shares outstanding: 277,635,790 units
Market cap: 3723 million
Free cash flow yield: 679 / (1473 + 3723) = 13.07%.
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Sorry for intruding here as well, as this company has come up often, but then the thread has been quiet, so I wanted to come here to continue the discussion.
Revenue did decrease slightly, but the digital channel (a growing driver?) and the growth of certain stores partially compensated for weaker performance elsewhere. Luxury brands performed well, and strategic investments in “customer experience” yielded results, which should continue to be visible in the future.
Management emphasized plans to expand successful experiments, and additionally, management naturally aims to accelerate profitable growth. The company continues to focus on efficiency, improving customer experience, and also on the sensible use of capital. And a strong cash flow enables rewarding shareholders through, among other things, dividends and share buybacks. 
https://x.com/Earnings_Time/status/1897618310088306833
Here’s the guidance:
https://x.com/AlphaSenseInc/status/1897651843217433045
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The company had a good first quarter, meeting expectations in terms of revenue and profitability.
The company has successfully improved its services and performed well in various areas. Bloomingdale’s and Bluemercury have grown well, although sales slightly decreased on Macy’s own channels, but the overall result was better than expected.
Management believes in the effectiveness of its strategy and sees good prerequisites for continued profitable growth. Not much AI hype was encountered. 
https://x.com/Earnings_Time/status/1927681486578196969
The Company’s Own Materials
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Thanks @Sijoittaja-alokas for sharing these numbers. The company lowered its guidance due to tariffs and expectations that consumers will become more selective towards the end of the year:
Own shares were bought back for 101 million. Currently, the equity per share is greater than the company’s share price, so as a result of the share buyback, the equity per share will increase. The return on equity for the previous 12 months was 12.92%.
The company also held an analyst call, where the CEO and CFO answered tough questions. CFO Adrian Mitchell, who has done a good job during the pandemic, is leaving the company. I was disappointed by this. The company’s management repeatedly emphasizes the strength of the company’s business model, which is flexible in terms of a strong balance sheet, supplier selection, and import channels. Today, only 20% of the company’s goods come from China. The share of domestic deliveries has grown to 18%.
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Macy’s exceeded its expectations in revenue and profit, additionally comparable sales grew across all brands.
The company achieved its strongest growth in over ten years, particularly in some Macy’s Reimagine 125 stores, Bloomingdale’s, and Bluemercury.
The company stated that its multi-brand, omnichannel strategy and focus on customer experience support long-term profitable growth. 
https://x.com/Earnings_Time/status/1963195700201550134
Company’s own materials
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Macy’s clearly delivered better-than-expected results, e.g., sales grew across the board, and the company exceeded its own forecasts in both sales and earnings.
Improved demand was visible across different brands, and profitability also improved as costs remained under control.
According to CEO Tony Spring, it was the company’s strongest quarter in a long time. He stated that the new strategy is working, customers are enthusiastic about the selection, and also how Macy’s is heading into the season from a strong position with its omnichannel customer-centric approach.
https://x.com/Earnings_Time/status/1996188001807061288
https://x.com/ConsensusGurus/status/1996198864618160460
The Company’s Own Materials
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