Macy's (M) Tops Q2 EPS by 9c, Comps Fell 2.6%; To Close 100 Stores

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Go back to Macy's (M) Tops Q2 EPS by 9c, Comps Fell 2.6%; To Close 100 Stores

Macy’s, Inc. Reports Second Quarter Earnings and Reaffirms Full-Year Guidance

August 11, 2016 7:59 AM EDT

CINCINNATI--(BUSINESS WIRE)-- Macys, Inc. (NYSE: M) today reported diluted earnings per share of 3 cents in the second quarter of 2016, ended July 30, 2016. Excluding asset impairment and other charges primarily related to upcoming store closings and non-cash retirement plan settlement charges of $255 million, or 51 cents per share (as described below), second quarter earnings per share were 54 cents per share. The companys earnings for the second quarter of 2016 compare with 64 cents per diluted share in the second quarter of 2015.

The company also reaffirmed its previous sales and earnings guidance for full-year 2016.

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