secwatch.observer — SEC 8-K summary
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Issuer:     Macy's, Inc. (M)
CIK:        0000794367
Form:       8-K
Filed at:   2023-08-22T23:59:59+00:00
Accession:  0001628280-23-030169
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Macy's Q2 net sales $5.13B, down 8% YoY; adjusted EPS $0.26 vs $1.00; reaffirms FY guidance
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- Diluted EPS ($0.08) includes pension settlement charge; adjusted EPS $0.26 vs $1.00 prior year.
- Comparable sales down 7.3% owned-plus-licensed; digital sales down 10%; brick-and-mortar down 8%.
- Other revenue fell to $150M from $234M driven by higher credit card delinquencies and bad debt.
- Merchandise inventories down 10% YoY; gross margin rate 38.1% vs 38.9% due to clearance markdowns.
- FY 2023 guidance reaffirmed: net sales $22.8-23.2B, adjusted EPS $2.70-3.20.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/794367/000162828023030169/0001628280-23-030169-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/794367/000162828023030169/n-20230822.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-030169

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