Macy's: Q2 EPS nearly quartered

(CercleFinance.com) - Macy's has reported Q2 adjusted EPS of $0.
26, compared with one dollar a year ago, with adjusted EBITDA tumbling nearly 44% to $347m, on sales that fell 8% to $5.13bn. NB after cp -2.5% yesterday, pmt -1.5%.

However, management said that its teams methodically implemented clearance markdowns and promotions to effectively clear its spring inventory and make room for new lines for the autum and holidays.

The department store chain confirms its targets for the current fiscal year, i.e. adjusted EPS of $2.70 to $3.20 and sales of $22.8bn to $23.2bn, i.e. down 6% to 7.5% on a comparable basis.


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