Macy's: FY targets raised further after successful quarter
(CercleFinance.com) - Macy's announces that it is increasing its annual targets, now expecting adjusted EPS to reach between 4.
10 dollars and 4.30 dollars, compared to previous target range of 3.95 dollars to 4.15 dollars, with sales growth of +0.3% to +0.7% (vs. 0 to +0.7% previously).
In its third quarter, the department store chain's adjusted EPS increased by almost 28% to 27 cents, largely beating the consensus, which was only looking for 14 cents, for sales that are up 2.3% at 5.4 billion dollars.
The Cincinnati (Ohio) based group explains this improvement due to strong digital growth, a continued improvement in sales at its physical stores and execution of its North Star strategy. It said that it is also on track for a dynamic festive season.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
10 dollars and 4.30 dollars, compared to previous target range of 3.95 dollars to 4.15 dollars, with sales growth of +0.3% to +0.7% (vs. 0 to +0.7% previously).
In its third quarter, the department store chain's adjusted EPS increased by almost 28% to 27 cents, largely beating the consensus, which was only looking for 14 cents, for sales that are up 2.3% at 5.4 billion dollars.
The Cincinnati (Ohio) based group explains this improvement due to strong digital growth, a continued improvement in sales at its physical stores and execution of its North Star strategy. It said that it is also on track for a dynamic festive season.
Copyright (c) 2018 CercleFinance.com. All rights reserved.