Macy's: disappointing Q3 sales.

(CercleFinance.com) - Released this Thursday before Wall Street opened, Macy's Q3 results, included EPS of 12 cents, up 7 cents year-on-year.


Restated for extraordinary items, EPS of the US chain store reached 23 cents, 4 cents above the consensus.

Total revenues, however, fell further than expected to 5.28 billion dollar, after about 5.63 billion dollars in Q3 2016, while analysts expected slightly under 5.31 billion dollars. Sales at constant stores fell by 4%, compared to a 2.9% decline expected by the market.

Macy's continues to expect FY revenues to decline by between 2.2% and 3.3%. Adjusted EPS is still expected to be between 3.38 dollars and 3.63 dollars.


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