Macy's (M) Q1 Earnings and Revenues Surpass Estimates

Core Viewpoint - Macy's reported quarterly earnings of $0.16 per share, exceeding the Zacks Consensus Estimate of $0.14 per share, but down from $0.27 per share a year ago, indicating a 40.74% year-over-year decline in earnings [1] - The company achieved a revenue of $4.6 billion for the quarter, surpassing the Zacks Consensus Estimate by 3.16%, but down from $4.85 billion year-over-year, reflecting a 5.12% decrease [2] Financial Performance - The earnings surprise for the latest quarter was 14.29%, and the company has surpassed consensus EPS estimates three times over the last four quarters [1][2] - Macy's shares have declined approximately 28.9% since the beginning of the year, contrasting with the S&P 500's gain of 0.7% [3] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.32 on revenues of $4.72 billion, and for the current fiscal year, it is $2.03 on revenues of $21.18 billion [7] - The estimate revisions trend for Macy's is currently unfavorable, resulting in a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [6] Industry Context - The Retail - Regional Department Stores industry is currently in the bottom 25% of the Zacks industry rankings, suggesting that stocks in this sector may struggle compared to those in the top 50% [8] - Another competitor in the same industry, Kohl's, is expected to report a quarterly loss of $0.22 per share, with revenues projected at $3.2 billion, down 5.2% from the previous year [9][10]