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