Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Despite the increasingly difficult consumer environment, Macy's delivered a decent quarterly result which also happened to be an all-around beat.</li><li>Its $5.6 billion in quarterly net sales exceeded its projections, despite a 1.6% decline in comparable owned plus licenced sales.</li><li>Elevated inventory levels within particular categories were caused by the high industry-wide inventory levels and the decline in consumer discretionary spending.</li></ul>

Despite the increasingly difficult consumer environment, Macy's delivered a decent quarterly result which also happened to be an all-around beat.Its $5.6 billion in quarterly net sales exceeded its projections, despite a 1.6% decline in comparable owned plus licenced sales.Elevated inventory levels within particular categories were caused by the high industry-wide inventory levels and the decline in consumer discretionary spending.

Macy’s Inc: Survival In A Challenging Macro Environment & Other Factors

Equity Capital Markets

<ul><li>Macy’s was faced with a number of challenges since the start of 2022 such as rising inflation, interest rates, a volatile stock market, Covid-19 lockdowns in Asia, and the war in Ukraine.</li><li>Despite the highly dynamic and uncertain operating environment, the company’s result managed to surpass Wall Street expectations.</li><li>Their 29.1 million Star Rewards program members accounted for 69% of Macy's brand, owned plus licence sales over the previous 12 months.</li></ul>

Macy’s was faced with a number of challenges since the start of 2022 such as rising inflation, interest rates, a volatile stock market, Covid-19 lockdowns in Asia, and the war in Ukraine.Despite the highly dynamic and uncertain operating environment, the company’s result managed to surpass Wall Street expectations.Their 29.1 million Star Rewards program members accounted for 69% of Macy's brand, owned plus licence sales over the previous 12 months.

Global Gaming and Casinos Industry Specialist, Casino Business Review LLC

Howard J Klein

Global Gaming and Casinos Industry Specialist

Casino Business Review LLC

Extensive experience in marketing and development in the Asian gaming market

Global Gaming and Casinos Industry

<ul>
<li>Amid ghost malls of closed stores across the US, this reimagined middle class retail legacy operator has transformed itself and become a special situation buy at its price.</li>
<li>With 794 stores  in all major cities, Macy's can move smartly up as global pandemic pressures begin to ease and bearish macro events like the Ukraine war find resolution.</li>
<li>Current market cap does not reflect impressive transformation of its business model management has put in place that shows in FY 2021 and promises better in 2022.</li>
</ul>


Amid ghost malls of closed stores across the US, this reimagined middle class retail legacy operator has transformed itself and become a special situation buy at its price.
With 794 stores  in all major cities, Macy's can move smartly up as global pandemic pressures begin to ease and bearish macro events like the Ukraine war find resolution.
Current market cap does not reflect impressive transformation of its business model management has put in place that shows in FY 2021 and promises better in 2022.


Macy's: Amid Global Uncertainties, a Special Situation in an Out of Favor Sector

Credit

<ul><li>Macy's Inc is facing a challenging macroeconomic environment and is attempting to cope with the same through its Polaris transformation strategy.</li><li>The company’s business has transformed significantly since the management started laying the groundwork for their Polaris strategy in 2019.</li><li>While store closures, low margins amidst the inflationary environment, and stifled growth challenges remain, the Polaris strategy is helping the management build a stronger, digitally-led retail business as the external environment continues to change.</li></ul>

Macy's Inc is facing a challenging macroeconomic environment and is attempting to cope with the same through its Polaris transformation strategy.The company’s business has transformed significantly since the management started laying the groundwork for their Polaris strategy in 2019.While store closures, low margins amidst the inflationary environment, and stifled growth challenges remain, the Polaris strategy is helping the management build a stronger, digitally-led retail business as the external environment continues to change.

Macy's Inc: Detailed Credit Analysis & Financial Strength Evaluation Report

<ul><li>Macy's Inc continues to survive in a challenging macro environment with its big silver lining being the Polaris transformation strategy.</li><li>The company’s business has changed dramatically since they started laying the groundwork for their Polaris strategy in 2019.</li><li>While story closures, low margins amidst and inflationary environment, and stifled growth challenges remain, the Polaris strategy is helping the management build a stronger, digitally-led retail business as the external environment continues to change.</li></ul>

Macy's Inc continues to survive in a challenging macro environment with its big silver lining being the Polaris transformation strategy.The company’s business has changed dramatically since they started laying the groundwork for their Polaris strategy in 2019.While story closures, low margins amidst and inflationary environment, and stifled growth challenges remain, the Polaris strategy is helping the management build a stronger, digitally-led retail business as the external environment continues to change.

United States

Macy's, Inc. operates department stores in the United States.  The Company also operates direct mail catalog and electronic commerce subsidiaries. Macy's retail stores sell a wide range of merchandise, including men's, women's and children's apparel and accessories, cosmetics, home furnishings and other consumer goods.

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Macy's Inc (M US)

Macy’s Inc: Survival In A Challenging Macro Environment & Other Factors

Despite the increasingly difficult consumer environment, Macy's delivered a decent quarterly result which also happened to be an all-around...

Baptista Research

Macy's Inc.: Digital Sales

Macy’s was faced with a number of challenges since the start of 2022 such as rising inflation, interest rates, a volatile stock market, Covid-19...

Baptista Research

Macy's: Amid Global Uncertainties, a Special Situation in an Out of Favor Sector

Macy;s, US legacy retail giant focused on middle class shoppers has transformed its business model to benefit from both return of brick and mortar...

Howard J Klein

Macy's Inc: Detailed Credit Analysis & Financial Strength Evaluation Report

Macy's Inc is facing a challenging macroeconomic environment and is attempting to cope with the same through its Polaris transformation...

Baptista Research

Macy's Inc: Financial & Price Forecasts

Macy's Inc continues to survive in a challenging macro environment with its big silver lining being the Polaris transformation strategy. The...

Baptista Research

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