Macy's Q1 adj. EPS $1.08 beats expectations, raises full-year adj. EPS guidance

Macy's, Inc.

2022-Q1 EPS reported $0.98 revenue$5,565,000,000

Q1 net sales $5.35B (+13.6% YoY); comparable sales +12.4% owned-plus-licensed; digital sales +34% vs Q1 2019.
GAAP diluted EPS $0.98, adjusted diluted EPS $1.08 vs $0.39 prior year; gross margin 39.6% (up 100 bps).
Raised FY22 adjusted EPS guidance to $4.53-$4.95 (from $4.13-$4.52); reaffirmed sales guidance ~$24.5B.
Repurchased $600M of shares under new $2B buyback; no material debt maturities for 5 years after restructuring.
Quarterly dividend declared $0.1575/share, payable July 1, 2022 to record holders June 15.

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