24.02.2016 - Macy's expects sales growth in the current quarter
American retailer Macy's said that earnings for the last quarter suffered from weak sales results during the holiday season. Warm weather reduced sales of winter clothing, and profits from abroad were under the pressure from the strong US dollar. In the current quarter is expected the increase in sales due to the cold snap. Over the past quarter the company has received 544 million dollars of profit against 793 million dollars during the same period in 2014. Revenue fell by 5.3% to 8.87 billion dollars. We forecast a drop in the share price in the medium term by 15-20%, in spite of the possible increase in the near future.