Department store chain Macy’s, Inc. (NYSE: M) has provided an update on its fiscal fourth quarter 2024 results and outlook.
Estimated comparable sales are roughly flat quarter-to-date, with Macy’s non-First 50 locations performing below expectations and generating negative comparable salesThe go-forward business achieved quarter-to-date comparable sales growth, with Macy’s First 50 locations and luxury nameplates Bloomingdale’s and Bluemercury delivering sales growthThe management expects fourth-quarter adjusted earnings per share to be in line with the previously issued range of $1.40 to $1.65Q4 net sales are anticipated to be at, to slightly below, the low-end of the previously issued range of $7.8 billion to $8.0 billionThe company is scheduled to report the final results for the fourth quarter and fiscal year 2024 in early March 2025The retailer said it is on track to expand initiatives to open an additional 75 Macy’s locations in fiscal 2025
The post Earnings Summary: Macy’s reports preliminary Q4 results, updates outlook first appeared on AlphaStreet.
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