Macy's (M) Tops Q3 EPS by 7c, Lowers FY EPS Guidance

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November 21, 2019 6:57 AM EST

Macy's (NYSE: M) reported Q3 EPS of $0.07, $0.07 better than the analyst estimate of $0.00. Revenue for the quarter came in at $5.17 billion versus the consensus estimate of $5.32 billion.

  • Comparable sales decline of 3.9% on an owned basis; decline of 3.5% on an owned plus licensed basis

GUIDANCE:

Macy's sees FY2019 EPS of $2.57-$2.77, versus the consensus of $2.79.

Revised 2019 Annual Guidance

Prior 2019 Annual Guidance

Comparable sales

(owned plus licensed)

Down 1.5% to down 1.0%

Flat to up 1%

Comparable sales

(owned)

Approximately 20 basis points below comparable sales on an owned plus licensed basis

Flat to up 1%

Net sales

Down 2.5% to down 2.0%

Approximately flat

Adjusted Diluted earnings per share

$2.57 to $2.77

$2.85 to $3.05

Asset sale gains

Approximately $150 million (or $0.37 per share)

Approximately $100 million (or $0.25 per share)

Annual tax rate

23%

23%

For earnings history and earnings-related data on Macy's (M) click here.


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