Macy's Q3 beats expectations; adjusted EPS $0.21 vs $0.52 prior year, net sales $4.86B down 7%

Macy's, Inc.

2023-Q3 EPS reported $0.63 revenue$15,491,000,000

Diluted EPS $0.15, adjusted $0.21; net sales $4.86B down 7% YoY; comparable sales (owned+licensed) down 6.3%.
Gross margin rate 40.3%, up 160bps; merchandise inventories down 6% YoY and 17% vs 2019.
Updated FY2023 guidance: net sales $22.9-23.2B, adjusted EPS $2.88-3.13 vs prior $2.70-3.20.
Bloomies comparable sales down 4.4% (owned+licensed); Bluemercury comps up 2.5% owned.
CEO transition: Tony Spring to become CEO in February 2024 as planned succession.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Macy's, Inc. reported fiscal year 2023 (53 weeks) results: EPS $2.88 - $3.13. Guidance reaffirmed.

Period: fiscal year 2023 (53 weeks)
EPS: $2.88 - $3.13
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Guidance as of November 16, 2023 Guidance as of August 22, 2023 Net sales $22.9 billion to $23.2 billion $22.8 billion to $23.2 billion Comparable owned-plus-licensed sales change (52 week basis) Down 7% to down 6% versus 2022 Down 7.5% to down 6% versus 2022 Adjusted diluted earnings per share* $2.88 - $3.13 $2.70 - $3.20 * Adjusted diluted EPS does not consider the impact of any potential future share repurchases associated with the company’s current share repurchase authorization.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Macy's, Inc. reported fiscal year 2023 (53 weeks) results: EPS $2.88 - $3.13. Guidance reaffirmed.

Period: fiscal year 2023 (53 weeks)
EPS: $2.88 - $3.13
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Adjusted diluted earnings per share* $2.88 - $3.13 $2.70 - $3.20

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Macy's, Inc. reported third quarter of 2023 (13 weeks ended October 28, 2023) results: revenue 4860, net income 43, EPS 0.15.

Period: third quarter of 2023 (13 weeks ended October 28, 2023)
Revenue: 4860
Net income: 43
EPS: 0.15
Result: reported results

Exact text from the filing

Net sales of $5 billion, down 7% versus the third quarter of 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Macy's, Inc. reported third quarter of 2023 (13 weeks ended October 28, 2023) results: revenue 4860, net income 43, EPS 0.15.

Period: third quarter of 2023 (13 weeks ended October 28, 2023)
Revenue: 4860
Net income: 43
EPS: 0.15
Result: reported results

Exact text from the filing

expenses from the third quarter to the fourth quarter. Financial Highlights All amounts in millions except percentages and per share figures Third Quarter 2023 2022 Net sales $ 4,860 $ 5,230 Other revenue 178 237 Comparable Sales Owned (7.0 %) Owned-plus-licensed (6.3 %) Gross margin 1,958 2,026 Gross margin rate 40.3 % 38.7 % Selling, general and

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Macy's, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-039210

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