13.05.2015 - The Macy's sales fell 0.7%
Macy's reported a weaker-than-expected sales in the first quarter of this year, which fell by 0.7%. One reason for this result was the irregular operation of ports on the west coast. The company also noted a reduction in purchases by foreign tourists in Chicago and New York. At the same time, the company increased the dividend by 15% and increased the share buyback program to $ 1.5 billion. The profit for the 1st quarter of this year fell to 193 million dollars against 224 million in the same periodof the last year. We forecast the company's shares growth by 10-12% by the end of the year.