Macy`s Inc

NYSE:M   3:59:58 PM EDT
+0.40 (+2.55%)
Negative Earnings Pre-Announcement

Macy’s Reports Q2 EPS Of 99 Cents

Published: 08/23/2022 11:19 GMT
Macy`s Inc (M) - Macy’s, Inc. Reports Second Quarter 2022 Results and Updates Guidance.
Q2 Earnings per Share $0.99.
Q2 Adjusted Earnings per Share $1.00.
Lowers Full-year Sales and EPS Guidance to Incorporate Risks Related to Increased Macroeconomic Pressures.
Qtrly Comparable Sales Down 1.5% on an Owned Basis and Down 1.6% on an Owned-plus-licensed Basis.
Qtrly Digital Sales Decreased 5% Year-over-year While Increasing 37% Versus Q2 of 2019.
Sees 2022 Net Sales $24,340 Million to $24,580 Million.
Sees 2022 Adjusted Diluted Earnings per Share $4.00 - $4.20.
In Certain Categories Inventory Levels Remain Elevated in Quarter Due to Reduced Year-over-year Sell-throughs.
Taking Required Markdowns to Clear Aged Inventory.
Despite Inflationary Pressures, Consumers Continued to Shop Co As Style Source and Gifting Destination.
Qtrly Net Sales $5,600 Million Versus $5,647 Million.
Q2 Earnings per Share View $0.85, Revenue View $5.49 Billion -- Refinitiv Ibes Data (analyst estimates).
FY Earnings per Share View $4.51, Revenue View $24.36 Billion -- Refinitiv Ibes Data (analyst estimates).
Macy's-lower Outlook Incorporates Risk Seen in Deterioration of Consumer Discretionary Spending in Some Categories & Level of Inventory Within Industry.
Macy's - Lower Outlook for the Remainder of the Year Incorporates Risks Associated With a More Pronounced Macro Downturn.
Macy's - Outlook Reflects Careful View of Impacts of Pressures Faced by Consumer and Those Placed on Business Given Weakening Macroenvironment.
Revenue is expected to be $5.2 Billion
Adjusted EPS is expected to be $0.19

Next Quarter Revenue Guidance is expected to be $8.36 Billion
Next Quarter EPS Guidance is expected to be $1.83

More details on our Analysts Page.