Macy's(M) ZACKS·2025-01-14 19:25Core Insights - Macy's Inc. has provided an update on its fourth-quarter fiscal 2024 performance, slightly lowering its sales outlook while highlighting the success of targeted initiatives at its First 50 locations and strong performances at luxury brands Bloomingdale's and Bluemercury as a foundation for growth [1][9]. Performance Overview - Macy's First 50 locations and luxury brands Bloomingdale's and Bluemercury achieved positive comparable sales growth for the nine-week period ending January 4, 2025, indicating their importance in the company's performance and alignment with its long-term strategy [2]. - Overall comparable sales for the quarter-to-date were roughly flat, with underperformance noted in non-First 50 locations, which recorded negative comparable sales during the period [3]. Sales Expectations - The company now expects fourth-quarter 2024 net sales to be at or slightly below the low end of its previously anticipated range of 8 billion, while maintaining guidance for adjusted earnings per share in the range of 1.65 [5]. Strategic Initiatives - Despite the downward revision in net sales, Macy's is making progress with its Bold New Chapter strategy, aiming for a second consecutive quarter of sequential comparable sales improvement, with plans to expand initiatives to an additional 75 locations in fiscal 2025 [6]. - The company is focused on growing its digital and omnichannel presence, which has shown positive results, forming the foundation of its broader strategy for long-term success [7]. Conclusion - While facing challenges with non-First 50 locations, Macy's remains committed to strategic initiatives that have delivered positive results in key areas, with investments in its strongest segments providing a pathway for future growth [9].