Macy’s reported earnings of 80 cents a share for the second quarter, 6 cents below the Capital IQ Consensus Estimate of 86 cents a share. Revenue grew 3.3% from the year-ago quarter to $6.27 billion for the quarter, below estimates of $6.3 billion.
The retailer’s miss contributed to shares of J.C. Penney declining. J.C. Penney will report its second quarter results after the market closes on Thursday.
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TheStreet Ratings team rates PENNEY (J C) CO as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate PENNEY (J C) CO (JCP) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, disappointing return on equity, poor profit margins, generally disappointing historical performance in the stock itself and deteriorating net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: