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Macy’s expects non-performing stores to impact Q4 sales

Macy’s has reaffirmed its fourth-quarter financial expectations, forecasting adjusted diluted earnings per share to fall within the previously announced range of 1.40 dollars to 1.65 dollars. The company also anticipates net sales to be near the lower end of its prior guidance, ranging from 7.8 billion dollars to 8 billion dollars. In a trading...

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Macy’s delays Q3 results after discovering employee hid millions in expenses

Macy’s has delayed its third quarter results after discovering that one of its employees hid nearly 132 million dollars to 154 million dollars in delivery expenses over the last three years. The company’s net sales for the quarter decreased 2.4 percent to 4.742 billion dollars, with comparable sales down 2.4 percent on an owned basis and down...

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Macy's lowers full year sales outlook amid difficult consumer environment

Macy’s has lowered its annual outlook to reflect the difficult consumer environment and now expects net sales to be in the range of 22.1 billion dollars to 22.4 billion dollars with comparable sales change of down between 1.5 to 2 percent. For the second quarter, Macy’s reported diluted and adjusted diluted earnings per share of 53 cents. Net...

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Macy's banks on turnaround, ups earnings forecast

For the first quarter, Macy’s diluted earnings per share were 22 cents and adjusted diluted earnings per share were 27 cents compared to 56 cents in the same quarter of 2023. Net sales of 4.8 billion dollars were down 2.7 percent, comparable sales were down 1.2 percent on an owned basis and down 0.3 percent on an...

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Macy’s shares surge 18 percent following buyout offer

Shares of US department store Macy's jumped almost 18 percent in early Monday trading following news that an investor group has offered a 5.8 billion dollars buyout deal. According to Wall Street Journal, Arkhouse Management, which focuses on real estate investments, and global asset manager Brigade Capital Management have jointly made the offer...

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Macy's raises full year profit target

Macy’s reported third quarter diluted earnings per share of 15 cents and adjusted diluted earnings per share to 21 cents, while net sales of 5 billion dollars were down 7 percent. The company's comparable sales declined 7 percent on an owned basis and 6.3 percent on an owned-plus-licensed basis. Commenting on the outlook, the company said it now...

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Macy's Q4 earnings beat analysts' expectations

Diluted earnings per share were 1.83 dollars and adjusted diluted earnings per share 1.88 dollars for the fourth quarter compared to 2.44 dollars and 2.45 dollars in the same quarter of 2021, respectively. According to Refinitiv, the company's adjusted earnings per share of 1.71 dollars excluding a tax benefit, were higher than the analysts'...

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Macy's posts profit, raises full year forecast

Macy’s For the first quarter, Macy’s Inc. reported diluted earnings per share of 32 cents and adjusted diluted earnings per share of 39 cents. The company said, adjusted diluted earnings per share for the quarter exceeded first quarter 2019 by 4 cents. The company’s posted net income of 103 million dollars. Excluding asset sale gains, comparable...