Macy’s, Inc. (M) reported third-quarter fiscal 2024 results, wherein the top line surpassed the Zacks Consensus Estimate but the bottom line lagged the same. Both revenues and earnings decreased from the year-ago quarter’s reported figures. Comparable sales (comps) fell on an owned-plus-licensed-plus-marketplace.Macy's strategic initiatives for fiscal 2024 focus on executing its "Bold New Chapter" strategy, which includes strengthening the Macy's brand through investments in staffing and merchandising, acce ...

Macy's, which launched a comprehensive strategy to revive its struggling business, announced Wednesday that it is accelerating its planned store closures for the year. CEO Tony Spring told analysts during an earnings call that Macy’s now expects to close about 65 locations this year, up from its previous forecast of 50 announced at the start of the year.However, Spring added that the "closures will occur post holiday."  The company is still on track with its plans to close 150 locations over three years as ...

Will Macy’s Bold New Chapter strategy be enough to save the iconic company and return it to profitable growth?Macy’s is facing a challenging period marked by declining sales, changing consumer habits and pressure from activist investors calling for a fiscal overhaul. In recent years, the company has dealt with falling revenue and a drop in foot traffic to its stores, as well as the influence of eCommerce competitors. Additionally, most of its new customers are arriving through digital means. At the same tim ...

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 300 points on Wednesday.The Dow traded up 0.49% to 44,296.79 while the NASDAQ rose 1.70% to 20,022.55. The S&P 500 also rose, gaining, 0.89% to 6,088.63.Check This Out: Top 3 Health Care Stocks That May Collapse This QuarterLeading and Lagging SectorsCommunication services shares jumped by 3.1% on Wednesday.In trading on Wednesday, health care shares fell by 1%.Top HeadlineMacy's Inc M reported third-quarter sales ...

macys inc ★macy's blomingdales BLUEMERCURY 3Q24 Earnings December 11, 2024 Safe Harbor Statement All statements in this presentation that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of Macy's, Inc.'s management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by ...

Macy's, Inc. (NYSE:M) Q3 2024 Earnings Conference Call December 11, 2024 8:00 AM ET Company Participants Pamela Quintiliano - VP of IR Tony Spring - Chairman & CEO Adrian Mitchell - COO & CFO Conference Call Participants Matthew Boss - JPMorgan Chase Brooke Roach - Goldman Sachs Blake Anderson - Jefferies Dana Telsey - Telsey Advisory Group Oliver Chen - TD Cowen Michael Binetti - Evercore ISI Bob Drbul - Guggenheim Partners Paul Lejuez - Citi Alex Straton - Morgan Stanley Jay Sole - UBS Operator Greetings ...

Macy's provided an update on the former employee who was responsible for hiding approximately $151 million of cumulative delivery expenses over the past three years.  "We’ve concluded our investigation and are strengthening our existing controls and implementing additional changes designed to prevent this from happening again and demonstrate our strong commitment to corporate governance," Macy's CEO Tony Spring said in a statement. Ticker Security Last Change Change % M MACY'S INC. 16.16 +0.18 +1.16% One ...

For the quarter ended October 2024, Macy's (M) reported revenue of $4.74 billion, down 2.4% over the same period last year. EPS came in at $0.04, compared to $0.21 in the year-ago quarter.The reported revenue represents a surprise of +0.28% over the Zacks Consensus Estimate of $4.73 billion. With the consensus EPS estimate being $0.07, the EPS surprise was -42.86%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next ...

Macy’s said an investigation into accounting problems found that a rogue employee hid more than $151 million in expenses to cover up a bookkeeping mistake and wasn’t motivated by personal or financial gain, according to a report.News of the accounting coverup in late November delayed the company’s quarterly earnings report and sent its shares tumbling. The department store giant’s shares slid by more than 11% on Wednesday after Macy’s cut its profit outlook for the year. 3 Macy’s chief executive Tony Spri ...

Key TakeawaysMacy's shares fell Wednesday morning after the retailer posted its delayed earnings report, pushed back last month after an accounting issue was discovered.Sales fell short of what analysts had expected, with sales declining at Macy's stores and rising at its higher-end brands Bloomingdale's and Bluemercury.The company's probe into an accounting issue has ended, and found that a single employee acted alone in covering up some $151 million in expenses since 2021. Macy's (M) shares fell Wednesday ...