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21.08.2024
Company news: Macy's (M) quarterly revenues miss analysts’ estimates
Macy's (M) reported Q2 FY2024 earnings of $0.53 per share (versus $0.26 per share in Q2 FY2023), beating analysts’ consensus estimate of $0.30 per share.
The company’s quarterly revenues amounted to $4.937 bln (-3.8% y/y), missing analysts’ consensus estimate of $5.059 bln.
The company also reaffirmed its FY2024 EPS guidance at $2.55-2.90 versus analysts’ consensus estimate of $2.78 and guided FY2024 revenues of $22.1-22.4 bln versus analysts’ consensus estimate of $22.53 bln. In addition, it lowered FY2024 comparable sales guidance to down ~2.0% y/y to down ~0.5% y/y versus its prior guidance of down ~1.0% y/y to up 1.5% y/y.
M fell to $16.33 (-7.95%) in pre-market trading.
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