Financial Data and Key Metrics Changes - Macy's Inc reported net sales of $4.7 billion, a decrease of 0.6% year-over-year, primarily due to the closure of 64 non-Go-Forward stores, which contributed approximately $160 million to sales in the previous year [23][24] - Comparable sales increased by 3.2%, marking the strongest growth in 13 quarters, with Go-Forward comparable sales up 3.4% [22][23] - Adjusted EPS was $0.09, significantly above the guidance range of a loss of $0.15-$0.20 and higher than last year's $0.04 [7][27] - Core adjusted EBITDA was $273 million, or 5.6% of total revenue, exceeding guidance of 3.3%-3.7% [27][35] Business Line Data and Key Metrics Changes - Macy's nameplate achieved 2% comparable sales growth, while Go-Forward Macy's saw a 2.3% increase, and Reimagined 125 stores rose by 2.7% [8][23] - Bloomingdale's reported a 9% increase in comparable sales, its best performance in 13 quarters, with net sales rising by 8.6% [15][24] - Bluemercury experienced a 1.1% increase in comparable sales, driven by dermatological skincare and expanded brand partnerships [19][24] Market Data and Key Metrics Changes - The retail landscape is evolving, with consumers becoming more discerning in their spending habits, seeking curated product assortments and seamless omnichannel experiences [8][20] - Macy's Thanksgiving Day Parade attracted over 34 million viewers, setting a new record and highlighting the company's strong brand presence [12][13] Company Strategy and Development Direction - The company is focused on its "Bold New Chapter" strategy, which includes strengthening the Macy's nameplate, differentiating luxury offerings, and modernizing operations [5][8] - Macy's aims to enhance customer experience through improved product curation and operational efficiency, with a strong emphasis on omnichannel retailing [8][11] - The company is committed to closing underperforming stores while investing in growth areas to drive sustainable profitability [27][35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of its middle to upper-income customer base and the effectiveness of its inventory and marketing strategies [20][66] - The company anticipates a strong holiday season, supported by a compelling mix of categories and brands, despite a cautious outlook on consumer behavior [30][31] - Management acknowledged the ongoing impact of tariffs but emphasized proactive mitigation efforts to minimize their effects on margins [49][50] Other Important Information - The company opened a new distribution center in China Grove, North Carolina, which incorporates automation and AI to enhance delivery efficiency [19][29] - Macy's returned $350 million to shareholders through dividends and share repurchases, with approximately $1.2 billion remaining on its buyback authorization [28][29] Q&A Session Summary Question: Can you speak to traction with reimagined store initiatives and November comp trends? - Management noted positive growth in reimagined stores, with consistent traffic and improved average unit retail (AUR) [40][41] Question: What are the key drivers for sustaining momentum into 2026? - Key drivers include product assortment, omnichannel balance, and shedding underperforming stores, with a focus on mitigating tariff impacts [44][46] Question: How confident is the company in the consumer outlook compared to 90 days ago? - Management expressed increased confidence in strategy execution and inventory quality, despite a cautious approach to guidance [66][67] Question: Can you elaborate on pricing increases and consumer response? - Pricing on new products has had little impact on consumer spending, with strong demand across various price points [82][84] Question: How is the credit business trending? - The credit business has seen a significant increase in applications and revenue, indicating strong customer engagement [85][86] Question: What is the status of the store closure program? - The company closed 64 stores last year and remains committed to optimizing its store fleet, with updates expected in the fourth quarter [91][92]

Macy’s (NYSE:M) Q3 2026 Earnings Call December 03, 2025 08:00 AM ET Company ParticipantsTom Edwards - COO and CFOPamela Quintiliano - VP of Investor RelationsTony Spring - Chairman and CEOConference Call ParticipantsAlex Straton - AnalystTracy Kogan - AnalystBrooke Roach - AnalystJay Sole - AnalystBob Drbul - AnalystDana Telsey - AnalystNicholas Sylvia - AnalystJanet Joseph Kloppenburg - AnalystBlake Anderson - AnalystMatthew Boss - AnalystChuck Grom - AnalystMichael Binetti - AnalystOperatorGreetings and w ...

Financial Data and Key Metrics Changes - Macy's Inc. reported net sales of $4.7 billion, a decrease of 0.6% year-over-year, attributed to the closure of 64 non-Go Forward stores, which contributed approximately $160 million to sales in the previous year [22][23] - Comparable sales increased by 3.2%, marking the strongest growth in 13 quarters, with Go Forward comparable sales rising by 3.4% [21][22] - Adjusted EPS was $0.09, significantly above the guidance range of a loss of $0.15-$0.20 and higher than last year's $0.04 [6][25] Business Line Data and Key Metrics Changes - Macy's nameplate achieved 2% comparable sales growth, while Go Forward Macy's saw a 2.3% increase, and Reimagined 125 locations reported a 2.7% rise in comparable sales [8][22] - Bloomingdale's experienced a 9% increase in comparable sales, its best performance in 13 quarters, while Bluemercury recorded a 1.1% growth in comparable sales [15][18] Market Data and Key Metrics Changes - The retail landscape is evolving, with consumers becoming more selective in their spending, seeking curated assortments and seamless omnichannel experiences [7][8] - Macy's reported a positive response to improvements in customer experience, reflected in the highest third-quarter Net Promoter Score on record [9] Company Strategy and Development Direction - The company is focused on its "Bold New Chapter" strategy, which includes strengthening the Macy's nameplate, differentiating luxury offerings, and modernizing operations [5][8] - Macy's is enhancing its product curation and customer experience, aiming to attract a broader customer base and improve store performance [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of its middle to upper-income customer base and noted strong visibility on controllable factors such as inventory discipline and improved customer experiences [19][20] - The company anticipates a strong holiday season, supported by effective marketing campaigns and a compelling mix of products [29][30] Other Important Information - The company opened a new distribution center in China Grove, North Carolina, which incorporates automation and AI to enhance delivery efficiency [18][28] - Macy's plans to return $350 million to shareholders through dividends and share repurchases, with approximately $1.2 billion remaining on its buyback authorization [26][27] Q&A Session Summary Question: Can you speak to traction with reimagined store initiatives? - Management noted positive growth in Reimagined 125 locations, with consistent traffic and improved average unit retail (AUR) [35] Question: What are the key drivers for sustaining momentum into 2026? - Key drivers include a diverse product assortment, a balanced omnichannel approach, and shedding underperforming stores [37][39] Question: How confident is the company in the consumer outlook compared to 90 days ago? - Management expressed increased confidence in strategy execution and inventory quality, despite a more cautious guidance approach [46][47] Question: Can you elaborate on pricing increases and consumer response? - Pricing on new products has had little impact on consumer appetite, with strong sales performance expected [52][53] Question: What is the status of the store closure program? - The company closed 64 stores last year and remains committed to optimizing its store fleet, with further details to be provided in the next call [56][57]

Financial Performance Highlights - Macy's Inc's comparable owned-plus-licensed-plus-marketplace (O+L+M) sales increased by 3.2% compared to 3Q24[8, 44] - Adjusted diluted earnings per share (EPS) was $0.09[9, 10] - Net sales were $4.7 billion, a decrease of 0.6% compared to 3Q24, but increased by 2.9% excluding the impact of store closures[40] - Comparable owned sales increased by 2.5% compared to 3Q24[42] - Go-Forward business comparable O+L+M sales increased by 3.4% compared to 3Q24[46] Brand Performance - Macy's nameplate comparable O+L+M sales increased by 2.0% compared to 3Q24[14, 49] - Macy's Go-Forward business comparable O+L+M sales increased by 2.3% compared to 3Q24[14, 49] - Bloomingdale's comparable O+L+M sales increased by 9.0% compared to 3Q24[17, 49] - Bluemercury comparable owned sales increased by 1.1% compared to 3Q24[24, 49] Operational Improvements - Inventory increased by 0.7% compared to 3Q24[29, 50] - Order-to-ship days improved by 11.3%[29, 30] Guidance - The company expects FY25 comparable O+L+M sales to be approximately flat to +0.5% vs FY24 and adjusted diluted EPS to be $2.00 to $2.20[62]

Company Overview - Mytheresa is a luxury e-commerce platform founded in Munich in 1987, transitioning to online sales in 2006, offering a curated selection of up to 250 high-end brands, including Gucci, Prada, and Valentino [6] - In fiscal year 2025, Mytheresa generated revenues of 988.5 million euros [6] Leadership Changes - Francis Belin, a former executive at Christie's, has been appointed as the new CEO of Mytheresa, effective January 1 [1] - Belin's appointment aims to sustain Mytheresa's strong global growth trajectory [1] - Michael Kliger, the previous CEO of Mytheresa for 10 years, will continue to oversee the overall strategy of Mytheresa and other brands under LuxExperience [2][5] Strategic Goals - Belin is expected to leverage his extensive luxury experience to drive Mytheresa's next phase of global growth and enhance its position as a leader in the luxury market [4] - Kliger expressed confidence in Belin's customer-centric approach and collaborative leadership style, which are seen as vital for the future of Mytheresa [2] Recent Acquisitions - LuxExperience acquired Yoox Net-a-porter (YNAP) from Compagnie Financière Richemont, trading a 33% stake in the combined business for 555 million euros in cash [3]

Company Overview - Tenzing Global Management initiated a new position in Signet Jewelers, acquiring 80,000 shares valued at approximately $7.67 million, representing 5.39% of the fund's reportable U.S. equity assets [5][6] - Signet Jewelers targets individual consumers seeking engagement, wedding, and gifting jewelry, focusing on the U.S., Canada, and U.K. markets [1] - The company operates over 2,800 stores and kiosks across North America and the U.K., leveraging a portfolio of well-known jewelry brands and an integrated omnichannel strategy [3] Financial Performance - As of November 14, 2025, Signet shares were priced at $101.01, reflecting a 5.22% increase over the past year, although underperforming the S&P 500 by 7.57 percentage points [4] - Over the past ten years, Signet's shares have declined by 12%, resulting in a compound annual growth rate (CAGR) of -1.3%, while the S&P 500 has generated a total return of 290% with a CAGR of 14.6% [7] Market Position and Challenges - Signet generates revenue primarily through the sale of fine jewelry, watches, and diamond services, facing increased competition from e-commerce platforms and the rise of lab-grown diamonds, which exert downward pressure on margins [2][8] - Despite these challenges, company insiders, including CEO James Symancyk, have been purchasing shares, indicating potential confidence in the company's future [8] Investment Sentiment - The recent institutional buy of Signet stock is viewed as a bullish signal, particularly in conjunction with insider purchases, although the company continues to face significant competition and historical underperformance [9]

Financial Data and Key Metrics Changes - The company reported a record quarterly GMV of $520 million, representing a 20% increase year-over-year [5][14] - Revenue for Q3 was $174 million, up 17% compared to the previous year, with consignment revenue increasing by 15% [14][15] - Adjusted EBITDA was $9.3 million, or 5.4% of total revenue, reflecting a 380 basis point increase year-over-year [5][16] - Free cash flow for the quarter was $14 million, a $12 million improvement year-over-year [16][19] Business Line Data and Key Metrics Changes - Direct revenue increased by 47% year-over-year, accounting for 13% of total revenue in Q3 [14][15] - Average order value rose to $584, a 12% increase from the previous year [15] - The take rate decreased by 70 basis points year-over-year to 37.9% due to a higher mix of direct revenue [15] Market Data and Key Metrics Changes - The company noted a significant shift in consumer behavior, with 58% of shoppers preferring the secondary market and 47% considering resale value before purchasing new items [4][5] - The active buyer base reached over 1 million, marking a new all-time high with a 7% year-over-year increase [15] Company Strategy and Development Direction - The company is focused on three strategic pillars: growth playbook, operational efficiency, and customer service [6][10] - Plans to expand retail locations by adding one to three stores per year, with a total addressable market of over $200 billion in the U.S. [7][9] - The introduction of AI-driven tools like Smart Sales and Athena aims to enhance supply acquisition and operational efficiency [6][10][57] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a full-year GMV of over $2 billion, driven by strong market demand and operational improvements [4][19] - The company raised its full-year guidance, expecting GMV in the range of $2.10 billion to $2.11 billion, reflecting a 15% increase at the midpoint [18][19] - Management highlighted the importance of building trust with customers and enhancing the resale experience as key to future growth [10][62] Other Important Information - The company has reduced total indebtedness by over $86 million since the beginning of 2024, reinforcing its commitment to deleveraging [17] - The proprietary AI-enabled product intake process, Athena, is expected to touch 30%-40% of all items by year-end, improving efficiency and reducing costs [10][57] Q&A Session Summary Question: Confidence in Q4 GMV growth guidance - Management noted strong momentum from sales, marketing, and retail efforts, with early signs of success in referral and affiliate programs [23][24] Question: Guardrails for next year's growth rates - Management indicated a medium-term growth rate expectation of high single digits to low double digits, with potential for higher growth in the short term [26] Question: Update on DropShip initiatives - Management stated that this year was focused on testing and learning, with plans for meaningful contributions from DropShip in the medium term [30] Question: Revenue growth drivers - Management emphasized that revenue growth is primarily driven by increased supply coming through the door rather than processing speed [32] Question: Competitive dynamics in the resale market - Management highlighted the company's market leadership and strategic advantages in expertise, data, and customer trust [38][39] Question: Q4 EBITDA expectations - Management expects continued operating efficiencies and leverage in operations and tech, driven by AI initiatives [41] Question: Marketing investment and efficiency - Management confirmed increased marketing investment to drive growth, with a focus on balancing growth and profitability [81]

Core Insights - Brilliant Earth Group, Inc. reported a year-over-year net sales growth of 10.4%, reaching $110.3 million in Q3 2025, exceeding the company's guidance [6][5] - The company achieved a significant 45% year-over-year growth in bookings for fine jewelry and a return to growth in engagement ring bookings [4][6] - Gross margin for the quarter was 57.6%, demonstrating resilience despite high metal prices and a challenging tariff environment [4][6] Financial Performance - Total orders increased by 16.8% year-over-year, totaling 49,910 in Q3 2025 compared to 42,744 in Q3 2024 [5] - Average order value (AOV) decreased by 5.5% to $2,209 from $2,337 year-over-year [5] - Adjusted net income for Q3 2025 was $1.7 million, a 13.3% increase from $1.5 million in Q3 2024 [6][30] Year-to-Date Performance - Year-to-date net sales for 2025 reached $313.1 million, a 3.4% increase from $302.6 million in 2024 [8] - The company reported a net loss of $5.1 million for the nine months ended September 30, 2025, compared to a net income of $1.4 million in the same period of 2024 [8][29] - Adjusted EBITDA for the nine months was $7.8 million, down 44.9% from $14.2 million in 2024 [8][30] Market Position and Outlook - The company continues to gain market share, positioning itself as a premier jewelry brand for modern consumers [4] - The outlook for full-year net sales growth is projected at 3% to 4.5% year-over-year [10] - The company celebrated its 20th anniversary with the launch of exclusive collections, enhancing its brand presence [6]

Financial Performance - Macy's Inc's net sales were $48 billion, a decrease of 25% compared to 2Q24, but an increase of 09% excluding store closures[38] - Comparable owned sales increased by 08% compared to 2Q24[39] - Comparable owned-plus-licensed-plus-marketplace (O+L+M) sales increased by 19% compared to 2Q24[41] - Go-Forward Business comparable O+L+M sales increased by 22% compared to 2Q24[43] - Adjusted diluted earnings per share (EPS) was $041[10], a decrease of 226% compared to 2Q24[49] Brand Performance - Macy's nameplate comparable O+L+M sales increased by 12% compared to 2Q24[48] - Macy's Go-Forward business comparable O+L+M sales increased by 15% compared to 2Q24[15] - Bloomingdale's comparable O+L+M sales increased by 57% compared to 2Q24[18] - Bluemercury comparable owned sales increased by 12% compared to 2Q24[23] Inventory and Operations - Inventory decreased by 08% compared to 2Q24[25] Capital Allocation - Dividend payments amounted to $100 million[53] - Share repurchases totaled $151 million[54] - Net long-term debt reduction of approximately $340 million was achieved[56] FY25 Guidance - Net sales are projected to be between $2115 billion and $2145 billion, representing a decrease of 15% to 05% compared to FY24[61] - Comparable O+L+M sales are expected to decrease by approximately 15% to 05% compared to FY24[61] - Adjusted EBITDA rate is projected to be between 74% and 79%[61] - Adjusted diluted EPS is projected to be between $170 and $205[61]

Summary of Brilliant Earth Group (BRLT) FY Conference Call Company Overview - **Company**: Brilliant Earth Group (BRLT) - **Industry**: Jewelry - **Market Position**: Positioned as a next-generation jeweler catering to millennial and Gen Z consumers with a focus on authenticity and mission-driven branding [2][4] Core Insights and Arguments - **Business Model**: The company operates an asset-light, data-driven model that allows for agility in responding to market trends, which is advantageous in the fragmented jewelry industry [3][8] - **Customer Demographics**: The primary customer base consists of millennials and Gen Z with household incomes between $100,000 and $200,000, who value a seamless and personalized shopping experience [4][5] - **Market Size**: The global jewelry industry is valued at approximately $350 billion, with two-thirds comprised of smaller independent retailers, presenting an opportunity for Brilliant Earth to gain market share [8] - **Sales Growth**: The company achieved a 16% compound annual growth rate (CAGR) in net sales from 2019 to 2024, while gross profit margins increased from the low 40s to 60% [9][10] - **Q1 2025 Performance**: Reported net sales of $94 million with an average order value of over $2,000, and a gross margin of 58.6% [11][12] Financial Highlights - **Adjusted EBITDA**: Achieved $1.1 million in adjusted EBITDA for Q1 2025, marking consecutive quarters of positive adjusted EBITDA since going public [11] - **Cash Position**: Ended Q1 2025 with $92.5 million in net cash, reflecting a year-over-year growth of 5% [12][16] - **Inventory Efficiency**: The company reported inventory turns of four times, significantly higher than the industry average of one to two times, indicating efficient working capital management [15][19] Strategic Initiatives - **Product Expansion**: Focus on increasing the share of fine jewelry, which contributed 14% of total bookings in Q1, representing a growth opportunity beyond engagement and wedding rings [13][14] - **Showroom Growth**: Opened new showrooms, bringing the total to 42, which are expected to drive incremental bookings and enhance customer engagement [20][21] - **Innovation and Technology**: Emphasis on investing in data, systems, and processes to drive operational efficiencies and sustainable growth [21][22] Long-term Goals - **Sales Growth Target**: Aiming for low teens year-over-year growth in net sales by 2027, driven by improvements in engagement rings and fine jewelry sales [22][23] - **Gross Margin Target**: Targeting high 50s gross margin percentage through 2027 by focusing on premium brand positioning and procurement efficiencies [23] - **Adjusted EBITDA Margin**: Aiming for a double-digit adjusted EBITDA margin by 2027 [24] Additional Noteworthy Points - **Celebrity Engagement**: Highlighted a collaboration with Beyoncé, which included a unique jewelry piece, showcasing the brand's appeal to influencers and celebrities [18] - **Omnichannel Experience**: Commitment to creating a seamless omnichannel experience for customers, integrating digital and physical touchpoints [20][24] This summary encapsulates the key points from the Brilliant Earth Group's FY conference call, highlighting the company's strategic positioning, financial performance, and future growth initiatives.