Following previous ticker characteristics,
Macy’s, Inc. (NYSE:M) also run on active notice, stock price dropped -1.12% after traded at $29.21 in most recent trading session. Macy’s Inc. was downgraded to neutral from buy at Buckingham Research Group on concerns that the sales pressure the retailer is under won’t be relieved anytime soon. Buckingham Research analysts cite a number of challenges facing the company in a Tuesday note, including competition from both online and off-price competition, tourist traffic declines, and limits to expense reduction. While the company does have valuable real estate holdings, the timing on any transactions and gains are unclear. “Moreover, given the acceleration in store closings across the sector, we are concerned that valuations outside of the flagships could come under pressure as Macy’s pursues more transactions,” analysts said.
Signet Jewelers Raises First Quarter And Full Year Guidance
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HAMILTON, Bermuda, April 12, 2021 /PRNewswire/ Signet Jewelers Limited ( Signet ) (NYSE:SIG), the world s largest retailer of diamond jewelry, today is increasing its Fiscal 2022 first quarter and full year guidance.
Signet has seen stronger than expected conversion and average ticket values in the first quarter. The Company believes this topline strength is likely due to a combination of traction from strategic initiatives as well as tailwinds from stimulus, tax refunds and consumer enthusiasm on the heels of vaccine rollouts – particularly during the Company s guest appreciation events in late March.
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