secwatch.observer — SEC 8-K summary
======================================

Issuer:     Macy's, Inc. (M)
CIK:        0000794367
Form:       8-K
Filed at:   2024-08-21T23:59:59+00:00
Accession:  0001628280-24-037971
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Macy's Q2 GAAP EPS $0.53 vs loss of $0.08; revenue $4.9B -3.8%; lowers net sales guidance
--------------------------------------------------------------------------------

- Diluted EPS $0.53 (Adjusted $0.53) exceeded outlook; compares to diluted loss of $(0.08) and adjusted EPS $0.26 in Q2 2023.
- Net sales $4.9B, down 3.8% YoY. Comparable sales down 4.0% owned, down 3.3% owned+licensed+marketplace.
- Gross margin rate 40.5%, up 240 bps; First 50 locations achieved second consecutive quarter of positive comparable sales (+0.8% owned).
- Annual net sales guidance lowered to $22.1-22.4B (prior $22.3-22.9B); comparable sales now -2% to -0.5% (prior -1% to +1.5%).
- Adjusted diluted EPS guidance reaffirmed $2.55-$2.90; SG&A expense $2.0B, down $7M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/794367/000162828024037971/0001628280-24-037971-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/794367/000162828024037971/n-20240821.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-037971

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer