Macy's (M) Tops Q3 EPS by 21c; Raises Outlook

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Go back to Macy's (M) Tops Q3 EPS by 21c; Raises Outlook

Macy’s, Inc. Reports Third Quarter 2023 Results

November 16, 2023 6:55 AM EST

Delivered better-than-expected performance on both top and bottom lines

Gross margin rate of 40.3%, up 160 basis points year-over-year

Merchandise inventories down 6% year-over-year, down 17% to 2019

Diluted EPS of $0.15 and Adjusted Diluted EPS of $0.21

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

Id like to thank our teams for executing well during the quarter. We delivered better-than-expected top and bottom line third... More