Macy’s, Inc. Reports Second Quarter 2024 Results

Macy's (M) PT Lowered to $17 at Morgan Stanley

Morgan Stanley analyst Kimberly Greenberger lowered the price target on Macy's (NYSE: M) to $17.00 (from $18.00) while maintaining a Equalweight rating.

The analyst comments "Though M beat 2Q EPS & reiterated FY EPS guidance, this result was lower-quality. We continue to see... More

Macy's (M) PT Lowered to $16 at Citi

Citi analyst Paul Lejuez lowered the price target on Macy's (NYSE: M) to $16.00 (from $17.00) while maintaining a Neutral rating.

The analyst comments "Unlike what we heard from WMT, TGT and TJX, M saw a slowdown as 2Q progressed and significantly missed comp expectations... More

Macy's (M) PT Lowered to $16 at Evercore ISI

Evercore ISI analyst Michael Binetti lowered the price target on Macy's (NYSE: M) to $16.00 (from $17.00) while maintaining a In Line rating.

The analyst comments "Bottom Line: Macys reported 2Q EPS at $0.53. Excluding $0.10 from 1x asset sales 2Q EPS was $0.43, above our $0.26/Street $0.30.... More

Macy's shares dive 12% as company cuts sales guidance; Q2 results top estimates

(Updated - August 21, 2024 9:38 AM EDT)

Shares in Macys (NYSE: M) plummeted 12% following Wednesday's market open after the company cut its sales guidance for the fiscal 2025, missing consensus estimates.

For the fiscal Q2 2025, the department store chain reported earnings per share (EPS) of $0.53, significantly above the analyst estimate of $0.30. The company posted revenue of $5.1 billion for the quarter, compared to the consensus estimate of $5.06 billion.

Comparable sales on an owned basis declined by 4%, while owned plus licensed comparable sales... More