Macy's: Q2 EPS doubles

(CercleFinance.com) - Macy's has reported adjusted EPS of $0.
53 for Q2, compared with $0.26 in Q2 2023, as well as a gross margin that improved 2.4 points to 40.5%, albeit on sales that fell 3.8% to $4.9bn.

In a difficult consumer environment, we are seeing signs that our strategy is taking root, including two consecutive quarters of positive comparable sales in our top 50 stores, CEO Tony Spring said.

Macy's confirms it expects FY EPS of $2.55 to $2.90, but now only anticipates revenues of between $22.1bn and $22.4bn, compared with a previous target range of $22.3bn to $22.9bn three months ago.


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