---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-039210"
form_type: "8-K"
ticker: "M"
cik: "0000794367"
company_name: "Macy's, Inc."
filed_at: "2023-11-16T23:59:59+00:00"
generated_at: "2026-06-08T01:45:37.300687+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-23-039210
- form_type: 8-K
- ticker: M
- cik: 0000794367
- company_name: Macy's, Inc.
- filed_at: 2023-11-16T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/794367/000162828023039210/0001628280-23-039210-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/794367/000162828023039210/n-20231116.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-039210
- JSON: https://secwatch.observer/filing/0001628280-23-039210.json
- Plain text: https://secwatch.observer/filing/0001628280-23-039210.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/794367/000162828023039210/0001628280-23-039210-index.htm
- Earnings Releases
  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
  source text: Adjusted diluted earnings per share* $2.88 - $3.13 $2.70 - $3.20
  evidence_url: https://www.sec.gov/Archives/edgar/data/794367/000162828023039210/0001628280-23-039210-index.htm
- Earnings Releases
  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
  source text: Net sales of $5 billion, down 7% versus the third quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/794367/000162828023039210/0001628280-23-039210-index.htm
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/794367/000162828023039210/0001628280-23-039210-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.