Today’s Research Reports on Stocks to Watch: G-III Apparel and Macy’s

NEW YORK, NY / ACCESSWIRE / June 6, 2018 / Apparel stocks Macy’s and G-III Apparel Group were hitting brand new highs in Tuesday’s session for different reasons. Macy’s hit a new high after receiving a bullish note from an analyst at Evercore ISI while G-III Apparel shares exploded after the company reported a surprise profit in its first quarter report.

RDI Initiates Coverage on:

G-III Apparel Group, Ltd.
https://rdinvesting.com/news/?ticker=GIII

Macy’s, Inc.
https://rdinvesting.com/news/?ticker=M

G-III Apparel Group, Ltd. shares closed up almost 11% on Tuesday with about 5.5 million shares traded. The stock hit a new high of $51.19 yesterday after impressing Wall Street with a first quarter profit. The company, which owns many fashion brands including DKNY and has fashion licenses for many others, reported first quarter results early Tuesday. For the quarter, the company reported a profit of 22 cents a share. This shocked many as estimates from analysts had called for a loss of 4 cents. Revenue at $612 million was also ahead of the $570 million that analysts had been expecting. For the full-year, G-III Apparel Group has projected EPS of $2.27 to $2.37 with revenue of $2.97 billion. Analysts were expecting EPS of just $2.05 and revenue of $2.938 billion.

Access RDI’s G-III Apparel Group, Ltd. Research Report at:
https://rdinvesting.com/news/?ticker=GIII

Macy’s, Inc. saw a gain of 7.95% by the end of the trading day on Tuesday. The retail apparel chain saw its shares also hit a new high of $40.28 on trading volume more than twice as high as usual. The big moves came after analysts at Evercore ISI went from a bearish sentiment to a bullish one on the company. According to Omar Saad, an analyst with the firm, “Macy’s has been implementing processes to improve inventory flow and management. These efforts are just starting to pay off, with inventory continuing to decline over the past year while retail gross margins held relatively steady and finally inflected to positive in the first quarter of 2018.” He raised his 2018 EPS estimate for the company from $2.95 to $3.15 and upped his 2019 EPS estimate from $3.10 to $3.40. The company reported impressive first quarter results last month. Kinsey Grant of TheStreet had said last month, “Macy’s big quarter comes on the heels of a rough downgrade Morgan Stanley analyst Kimberly Greenberger sent to clients on May 10. In a downgrade to underweight from equal weight, Morgan Stanley cited Macy’s negative store comps and declining return on invested capital that would create an “uphill battle” after the first quarter. Thanks for nothing, Morgan Stanley. Macy’s stock has rallied 42.7% in the last year, up about 29% since the start of 2018.”

Access RDI’s Macy’s, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=M

Our Actionable Research on G-III Apparel Group, Ltd. (NASDAQ: GIII) and Macy’s, Inc. (NYSE: M) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com

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