Macy's: raises FY targets

(CercleFinance.com) - Alongside its quarterly results, Macy's has announced that it is raising its targets for the current fiscal year, now targeting adjusted EPS of $2.
88 to $3.13, compared to the previous target range of $2.70 to $3.20. NB: pmt +11%

Likewise, the department store chain is raising its revenue guidance to $22.9bn to $23.2bn (from $22.8bn to $23.2bn previously), implying a 6% to 7% decline on a comparable basis (vs. a 6% to 7.5% fall).

Macy's posted Q3 adjusted EPS of $0.21, compared with $0.52 a year earlier, on sales that are down 7% to $4.86bn (-6.3% LFL, including franchises).


Copyright (c) 2023 CercleFinance.com. All rights reserved.