Macy’s, Inc. (NYSE:M) jumped 7.6 percent, the most in the S&P 500. Many retailers’ holiday sales suffered, but Macy’s were solid, and it forecast profit for next year ahead of analysts’ estimates. Still, it aims to cut costs — mainly by eliminating 2,500 jobs and closing certain stores, while opening Macy’s and Bloomingdale’s stores elsewhere. “Our company has significantly increased sales and profitability over the past four years,” CEO Terry Lundgren said, but it has “identified some specific areas where we can improve our efficiency.” Macy’s, Inc. (NYSE:M) stock opened at $55.15 in last session, and closed at $55.80, while the day range of M stock is $54.79 – $56.25. The stock showed a positive weekly performance of 4.51%.
Global Payments Inc (NYSE:GPN) was downgraded by investment analysts at Wells Fargo & Co. from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call. Global Payments Inc (NYSE:GPN) stock opened at $65.88, in last session and closed at $67.04, by gaining 4.08%. The 52 week range of the stock is $43.73 -$68.45. Company’s market capitalization is $4.82 billion.
Pier 1 Imports Inc. (NYSE:PIR) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.47-0.52 for the period, compared to the Thomson Reuters consensus estimate of $0.63, ARN reports. Pier 1 Imports Inc (NYSE:PIR) stock decreased -12.35% and finished the last session at $20.44. The EPS of the stock remained 1.18. Company’s market capitalization is $2.10 billion.
Shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) fell 12.5%, after reporting a weaker quarterly profit on Thursday as it discounted to win holiday shoppers. Bed Bath & Beyond Inc. (NASDAQ:BBBY) stock opened the session at $72.22, and closed the session at $69.75. The 52 week range of the stock remained $54.62 – $80.82 and the day range was $68.83 – $72.26.
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