Macy's (M) Reports Better-Than-Expected Q3 Loss of $0.03; Raises Q4 Outlook Below the Street
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Macy's, Inc. (NYSE: M) reports Q3 loss of $0.03, ex-items, 4 cents better than the analyst estimate of ($0.07). Revenue for the quarter was $5.28 billion, which compares to the estimate of $5.24 billion.
Same store sales fell 3.6% during the quarter.
Raises its Q4 adj-EPS guidance from $0.70-$0.80 to $1.01-$1.06, versus the consensus of $1.17. Sees Q4 same store sales down 1-2%.
Sees FY09 comps down 5.4-5.7%.
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