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Tracy M. Preston, the Executive Vice President, Chief Legal Officer, and Corporate Secretary of Macy’s, Inc. (NYSE:M), has recently executed a significant stock transaction amid the stock’s 9.9% decline over the past week. According to a Form 4 filing with the Securities and Exchange Commission, Preston sold 2,780 shares of Macy’s common stock on March 31, 2025. The shares were sold at a weighted average price of $12.6812, resulting in a total sale value of approximately $35,253.
The sale was conducted to cover tax withholding obligations following the vesting of restricted shares, as noted in the filing. After this transaction, Preston holds 4,723 shares of the company directly.
In addition to the sale, Preston acquired 7,503 shares of common stock on March 28, 2025, through the vesting of restricted stock units, although this acquisition was at no cost. These transactions are part of Preston’s ongoing management of her equity in the company.
Macy’s, Inc., a prominent player in the retail department store sector, continues to navigate the evolving retail landscape, with its leadership actively managing their stock positions.
In other recent news, Macy’s reported fourth-quarter earnings per share (EPS) of $1.80, surpassing analysts’ expectations of $1.54, attributed to several factors including higher-than-expected revenues from other sources like Credit Income and Macy’s Media Network. Despite this earnings beat, the company’s revenue of $8.0 billion fell short of the anticipated $8.4 billion. Analysts from TD Cowen, Telsey Advisory Group, Citi, JPMorgan, and CFRA have all adjusted their price targets for Macy’s, citing various challenges and future outlooks. TD Cowen and Citi both lowered their price targets to $14, while Telsey reduced it to $15, and CFRA set a new target at $13. JPMorgan downgraded Macy’s stock from Overweight to Neutral, with a revised target of $14, reflecting concerns over the retailer’s performance relative to past benchmarks.
Macy’s provided guidance for fiscal year 2025, projecting an EPS range of $2.05 to $2.25, which is below the Street’s expectation. The company anticipates a decline in same-store sales between 0.5% and 2.0%, contrasting with previous forecasts of a slight increase. Analysts noted that Macy’s management is taking a cautious approach due to macroeconomic uncertainties, such as inflation and consumer spending pressures. The company’s strategic plans include closing underperforming stores, expanding luxury locations, and focusing on asset monetization, expected to generate substantial returns over the next three years. Despite these efforts, the outlook remains challenging, with analysts highlighting ongoing pressures in the department store sector.
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