Macy’s officials are confident in their “A Bold New Chapter” strategy, highlighted by the company’s First 50 locations.During its second-quarter earnings call Wednesday (Aug. 21), Macy’s Chairman and CEO Tony Spring noted the retailer showcased these flagship stores as a beacon of success amid a challenging retail environment.“We’re excited about the First 50,” Spring said during the earnings call with analysts, emphasizing that these stores serve as an indicator of Macy’s future potential. “Confidence in o ...

Sales growth disappointed in the second quarter.Shares of Macy's (M -12.15%) were pulling back today after the department-store operator issued a weak sales result in its second quarter, even though profits were strong. As a result, the stock was down 12% as of 11:24 a.m. ET.Macy's is still shrinkingThe retailer reported a revenue decline of 3.8% to $4.9 billion, which was well below estimates at $5.12 billion. Comparable sales were down 3.3%, showing that the business is continuing to lose customers in wha ...

Macy’s, Inc. (M) has reported second-quarter fiscal 2024 results, wherein the top line lagged the Zacks Consensus Estimate while the bottom line surpassed the same. Total revenues declined and earnings increased from the year-ago quarter’s reported figures. Comparable sales (comps) fell on an owned basis and an owned-plus-licensed basis.M shares have lost 19.7% in the past six months compared with the industry’s 16.6% decline.Sales & Earnings PictureMacy’s, currently carrying a Zacks Rank #3 (Hold), has rep ...

Macy’s (NYSE:M) just reported results for the second quarter of 2024.Macy’s reported earnings per share of 53 cents. This was above the analyst estimate for EPS of 30 cents.The company reported revenue of $4.94 billion.This was 3.57% worse than the analyst estimate for revenue of $5.12 billion.InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as we ...

2Q24 Earnings August 21, 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 the forward-looking statements contained in ...

Macy's, Inc. (NYSE:M) Q2 2024 Earnings Conference Call August 21, 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 Bob Drbul - Guggenheim Partners Dana Telsey - Telsey Advisory Group Blake Anderson - Jefferies Tracy Kogan - Citi Alex Straton - Morgan Stanley Neil Goh - TD Cowen Michael Binetti - Evercore ISI Jay Sole - UBS Janet Kloppenburg - JJK ...

Macy’s slashed its annual sales forecast on disappointing second quarter earnings as the iconic department store struggles to win over inflation-battered customers. Macy’s shares plunged 13.4% on Wednesday morning.The retailer has been forced to cut prices and offer more promotions on its mid- to high-end goods to compete with affordable rivals — but it still lost out on sales. 3 Macy’s lowered its annual sales forecast on Wednesday after revealing disappointing second quarter earnings. REUTERSThe compan ...

Shares of Macy's Inc (NYSE:M) are tanking out of the gate, last seen down 12.1% at $15.62 after a mixed second-quarter report. The department store operator showed quarterly earnings of 53 cents per share on revenue of $4.94 billion, the former beating estimates and the latter falling short, and cut its full-year sales forecast amid struggles to get shoppers in stores and more promotions.It's been a tough year on the charts for M, down 24% year to date as the company sets its sights on closing 150 -- roughl ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Macy's (M) reported $4.94 billion in revenue for the quarter ended July 2024, representing a year-over-year decline of 3.8%. EPS of $0.53 for the same period compares to $0.26 a year ago.The reported revenue represents a surprise of -2.94% over the Zacks Consensus Estimate of $5.09 billion. With the consensus EPS estimate being $0.32, the EPS surprise was +65.62%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next ...