Shares of Macy's Inc (NYSE:M) are tanking out of the gate, last seen down 12.1% at $15.62 after a mixed second-quarter report. The department store operator showed quarterly earnings of 53 cents per share on revenue of $4.94 billion, the former beating estimates and the latter falling short, and cut its full-year sales forecast amid struggles to get shoppers in stores and more promotions.It's been a tough year on the charts for M, down 24% year to date as the company sets its sights on closing 150 -- roughl ...

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Macy's (M) reported $4.94 billion in revenue for the quarter ended July 2024, representing a year-over-year decline of 3.8%. EPS of $0.53 for the same period compares to $0.26 a year ago.The reported revenue represents a surprise of -2.94% over the Zacks Consensus Estimate of $5.09 billion. With the consensus EPS estimate being $0.32, the EPS surprise was +65.62%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next ...

Key TakeawaysMacy's missed second-quarter revenue and comparable store sales estimates as the retailer faced a tough consumer environment.The biggest U.S. department store chain operator also lowered its guidance because of the drop in sales and the need for more promotions.Macy's shares tumbled on the news. Macy's (M) shares slumped Wednesday after the retailer's second-quarter sales declined and it lowered its full-year guidance on weak consumer spending and more promotions. The biggest U.S. department st ...

Macy's (M) came out with quarterly earnings of $0.53 per share, beating the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.26 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 65.62%. A quarter ago, it was expected that this department store operator would post earnings of $0.18 per share when it actually produced earnings of $0.27, delivering a surprise of 50%.Over the last four quarters, the compa ...

Exhibit 99.1 Macy's, Inc. Reports Second Quarter 2024 Results GAAP EPS and Adjusted Diluted EPS of $0.53, exceeded outlook NEW YORK—August 21, 2024— Macy's, Inc. (NYSE: M) today reported financial results for the second quarter of 2024 and updated its annual guidance. "During the second quarter, we delivered strong earnings performance in a challenging consumer environment," said Tony Spring, chairman and chief executive officer of Macy's, Inc. "Our colleagues executed with discipline, supporting gross marg ...

Macy's logo is seen on a store in Manhattan, New York, United States of America, on July 5th, 2024.Macy's cut its full-year sales forecast Wednesday, as the department store operator said it is contending with selective shoppers and more promotions.The retailer posted a mixed quarter, as it topped Wall Street's earnings expectations but missed on revenue.Macy's said it now anticipates net sales of between $22.1 billion and $22.4 billion, which is lower than the $22.3 billion to $22.9 billion range it had pr ...

UNITED STATES - APRIL 27: Jennifer Lopez, wearing an outfit from her J.Lo clothing line, steps up ... [+] to the microphone to announce the winner of her model search during a news conference at Macy's on 34th St. The winning girl will star in a magazine advertisement for Lopez' fashions. (Photo by Robert Rosamilio/NY Daily News Archive via Getty Images)NY Daily News via Getty ImagesMacy’s is scheduled to report earnings before Wednesday’s open. The stock hit a record high $73.61/share in 2015 and is curren ...

ozgurdonmaz Shares of Macy's, Inc. (NYSE:M) have been a solid performer over the past year, rising 17%; however, they have been on a downward trend over the past two months as a proposed M&A transaction did not proceed and concerns about the consumer had been building. Shares, though, have recovered from a recent low following a strong retail sales report and favorable earnings from Walmart (WMT). This puts shares in an interesting position heading into the company’s quarterly earnings report on Wednesd ...

In its upcoming report, Macy's (M) is predicted by Wall Street analysts to post quarterly earnings of $0.32 per share, reflecting an increase of 23.1% compared to the same period last year. Revenues are forecasted to be $5.09 billion, representing a year-over-year decrease of 0.8%.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this pe ...