Macy's Q3 2022: Adj EPS $0.52 beats guidance; reaffirms sales, raises EPS forecast

Macy's, Inc.

2022-Q3 EPS reported $2.37 revenue$16,866,000,000

Net sales $5.23B, down 3.9% YoY; comparable sales -3.1% owned, -2.7% owned+licensed.
Diluted EPS $0.39; adjusted diluted EPS $0.52 vs. $1.23 in Q3 2021.
Gross margin 38.7% vs 41.0% in prior year; inventory up 4% YoY.
FY 2022 sales guidance reaffirmed $24.34B-$24.58B; adj. EPS raised to $4.07-$4.27 from $4.00-$4.20.
Bloomingdale's (+5.3% comp) and Bluemercury (+14.0% comp) outperformed Macy's brand (-4.4% comp).

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