Leading department store retailer
) announced the opening of its second store in Ponce, Puerto Rico
in fall 2015.
The new 150,000-square feet store will furnish the residents
of the region with an additional opportunity to own a wide range
of merchandise that includes men's, women's and children's
apparel and accessories, cosmetics, home furnishings and other
As per the company, construction is slated to begin in 2014
and would hire about 275 employees. The move reflects the
company's strategic initiative to expand in regions which provide
ample growth opportunities in terms of sales.
Macy's has been taking steps such as integration of
operations, consolidation of divisions, customer-centric
localization initiatives, as well as developing its e-Commerce
business and online order fulfillment centers to increase sales,
profitability and cash flow. Moreover, Macy's continues to focus
on price optimization, inventory management and merchandise
planning to drive traffic.
The company came up with better-than-expected first-quarter
fiscal 2013 results and maintained its guidance for fiscal 2013.
The quarterly earnings of 55 cents a share surpassed the Zacks
Consensus Estimate of 53 cents and surged 28% from 43 cents
earned in the prior-year quarter on the back of My Macy's
localization initiatives, omnichannel integration and effective
During the last reported quarter, Macy's opened 1 new store in
Victorville, Calif. and operates through 840 department stores
across 45 states. Moreover, Macy's operates 12 Bloomingdale's
Currently, Macy's holds a Zacks Rank #3 (Hold).
Other Stocks to Consider
Until any further upgrade in Macy's Zacks Rank, other well
performing stocks in the non-food retail, wholesale sector
Big 5 Sporting Goods Corp
), which carries a Zacks Rank #1 (Strong Buy).
The Gap, Inc
), carrying a Zacks Rank #2 (Buy) are also worth considering.
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