Macy's (M) Tops Q2 EPS by 12c, Maintains Guidance

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Go back to Macy's (M) Tops Q2 EPS by 12c, Maintains Guidance

Macy’s, Inc. Reports Second Quarter 2023 Results

August 22, 2023 6:55 AM EDT

Quarterly net sales, gross margin and SG&A better-than-expectations, contributing to Diluted EPS of $(0.08) and Adjusted Diluted EPS of $0.26

Merchandise inventories down 10% year-over-year reflecting the successful clearance of seasonal spring receipts

Reaffirmed annual sales and earnings guidance

NEW YORK--(BUSINESS WIRE)-- Macys, Inc. (NYSE: M) today reported financial results for the second quarter of 2023 and updated its annual guidance.

In the second quarter, we delivered better-than-expected top and bottom-line results, said Jeff Gennette, chairman and chief executive officer of Macys, Inc.... More