Macy

Macy’s (NYSE:M) lowered its full-year sales and earnings guidance on Thursday after reporting a decline in fiscal first-quarter comparable sales amid weakness in discretionary spending caused by macro-level impacts. The department store chain’s net sales guidance was lowered to a range of $22.8 billion to $23.2 billion from a prior view of $23.7 billion to $24.2 billion. Macy’s expects its comparable owned-plus-licensed sales to decline 6% to 7.5% this year, compared with the previous outlook of a 2% to 4% drop. The company’s adjusted per-share earnings guidance was shifted down to between $2.70 and $3.20 from $3.67 to $4.11. Analysts surveyed by Capital IQ had been expecting full-year revenue of $24.01 billion and normalized EPS of $3.72. Shares of Macy’s were down 3% in Thursday trade.

March 2, 2023 — Macy’s, Inc. (NYSE: M) today reported financial results for the fourth quarter and fiscal 2022 and provided fiscal 2023 guidance. Macy’s (NYSE:M)  reported fiscal Q4 adjusted earnings  of $1.88 per diluted share,Analysts polled by Capital IQ expected $1.59. Net sales for the quarter ended Jan. 28 were $8.26 billion, Analysts surveyed by Capital IQ expected $8.27 billion. For fiscal 2023, the company is expecting adjusted earnings of $3.67 to $4.11 per diluted share on net sales of $23.7 billion to $24.2 billion. Analysts surveyed by Capital IQ are expecting earnings of $4.17 on sales of $24.49 billion. Fourth Quarter 2022 Highlights Diluted earnings per share of $1.83 and Adjusted diluted earnings per share of $1.88, This compares to diluted earnings per share of $2.44 and Adjusted diluted earnings per share of $2.45 in the fourth quarter of 2021. This compares to diluted earnings per share of

Macy’s (NYSE:M) expects net sales of $23.7 billion to $24.2 billion this year, compared with a market estimate of $24.32 billion, and an adjusted earnings per share of $3.67 to $4.11, compared with a market estimate of $3.82.

Macy’s (NYSE:M): Fourth-quarter dividend of 16.54 cents per share.