Macy's Reports Earnings Tomorrow. Here's What to Expect. -- Barrons.com
Macy's Reports Earnings Tomorrow. Here's What to Expect. -- Barrons.com
DJ Macy's Reports Earnings Tomorrow. Here's What to Expect. -- Barrons.com
DJ梅西百貨明天將公佈財報。以下是我們可以期待的。--Barrons.com
By Teresa Rivas
特蕾莎·裏瓦斯(Teresa Rivas)著
Macy's stock has tumbled 59% this year, as the pandemic keeps shoppers away from malls. Wall Street doesn't have high expectations for the company's fiscal second-quarter earnings report, due out Wednesday.
梅西百貨的股票今年已經暴跌59%，因為大流行讓購物者遠離商場。華爾街對該公司定於週三發佈的第二財季收益報告不抱太高期望。
Macy's (ticker: M) reported an in-line fiscal first quarter in July, but the company warned that Covid-19 cases were keeping consumers at home, especially in hard-hit states. It isn't alone in dealing with lower traffic, but the coronavirus crisis has hit department stores especially hard. Kohl's (KSS) and Nordstrom (JWN) both saw their shares fall after reporting earnings in recent weeks.
梅西百貨(股票代碼：M)在7月份報告了第一財季的業績，但該公司警告説，新冠肺炎的案例讓消費者留在了家裏，特別是在受災嚴重的州。它並不是唯一一家應對客流量下降的公司，但冠狀病毒危機對百貨商店的打擊尤其嚴重。最近幾周，科爾公司(Kohl‘s)和諾德斯特龍公司(Nordstrom)都公佈了財報，股價雙雙下跌。
Macy's stock is down 59% year to date, while the S&P 500 is up 8%.
梅西百貨股價今年迄今下跌59%，而標準普爾500指數上漲8%。
Macy's also said it might not return to prepandemic levels of profitability until late 2021 or 2022. Indeed, patience probably will be necessary, given the state of the economic recovery and the toll on consumers.
梅西百貨還表示，可能要到2021年末或2022年才能恢復到普遍的盈利水平。事實上，考慮到經濟復甦的狀況和消費者的損失，耐心可能是必要的。
While Macy's and other department stores are selling more goods online, e-commerce hasn't been able to make up for closed stores -- especially for a company such as Macy's that depends heavily on tourist sales at locations such as its flagship Herald Square store in New York City. Even strong retailers are struggling with store closures.
雖然梅西百貨和其他百貨商店在網上銷售更多的商品，但電子商務無法彌補關閉的商店--特別是對於梅西百貨這樣嚴重依賴於紐約先驅廣場旗艦店等地遊客銷售的公司。即使是實力雄厚的零售商也在為關閉門店而苦苦掙扎。
The problems facing Macy's and its peers predate the pandemic. Department stores have been losing market share to online and specialty retailers for years. They have been hurt by the long-term decline in traffic to many malls, and more brands are striking out on their own. The company has been cutting costs, but just meeting lowered expectations isn't always enough to help the stock.
梅西百貨及其同行面臨的問題早在大流行之前就出現了。多年來，百貨商店的市場份額一直在被在線和專業零售商搶走。他們受到了許多商場客流量長期下降的影響，更多的品牌正在自立門户。該公司一直在削減成本，但僅僅達到降低的預期並不總是足以提振該股。
Of 16 analysts tracked by FactSet, there is only one Buy rating on Macy's. Half rate it at Hold or the equivalent, and 44% are bearish. The average analyst price target is $5.79, just over a dollar below where the shares have been trading.
FactSet追蹤的16位分析師中，只有一位給予梅西百貨買入評級，半數評級為持有或等值，44%為看跌。分析師的平均目標價為5.79美元，比該股的交易價格低1美元多一點。
For the quarter, analysts are predicting Macy's will report a loss of $1.77 a share on revenue of $3.5 billion. That compares with a $2.03 per-share loss and revenue of $3.02 billion in the prior quarter.
分析師預測，梅西百貨本季度營收為35億美元，每股虧損1.77美元。相比之下，上一季度每股虧損2.03美元，營收30.2億美元。
That said, much like last quarter, investors will probably be more interested in Macy's outlook. If it can deliver less-bad news, it could see a bounce, although that eluded its department store peers this quarter.
也就是説，就像上個季度一樣，投資者可能會對梅西百貨的前景更感興趣。如果它能帶來不那麼壞的消息，它可能會出現反彈，儘管本季度百貨商店的同行們沒有做到這一點。
Macy's scheduled a conference call for 8 a.m. Eastern time on Tuesday.
梅西百貨安排了上午8點的電話會議。東部時間週二。
Write to Teresa Rivas at teresa.rivas@barrons.com
寫信給Teresa Rivas，電子郵件：teresa.rivas@Barrons.com
(END) Dow Jones Newswires
(完)道瓊斯通訊社
September 01, 2020 07:29 ET (11:29 GMT)
2020年9月1日東部時間07：29(格林尼治標準時間11：29)
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