On the occasion of its quarterly publication, Macy's now forecasts EPS of between $2.55 and $2.90 and revenues of between $22.3 and $22.9 billion, compared with target ranges of $2.45-2.85 and $22.2-22.9 billion three months ago.
The department store chain reported adjusted EPS more than halved (-52%) to $0.27 for the first three months of its fiscal year, on revenues down 2.7% to $4.8 billion (-1.2% like-for-like on directly-operated stores).
Our sales performance was led by our top 50 locations, which achieved comparable year-on-year sales growth and are a leading indicator for our future stock", points out CEO Tony Spring.
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Macy's, Inc. is an omni-channel retail company. The Company operates stores, websites and mobile applications under three brands, Macy's, Bloomingdale's and Bluemercury, which sell a range of merchandise, including apparel and accessories (men's, women's and kids'), cosmetics, home furnishings and other consumer goods. The Company has stores in 43 states, the District of Columbia, Puerto Rico and Guam. Its operations are conducted through Macy's, Macy's Backstage, Macy's small format, Bloomingdale's, Bloomingdale's The Outlet, Bloomie's, and Bluemercury. In addition, Bloomingdale's in Dubai, United Arab Emirates and Al Zahra, Kuwait are operated under a license agreement with Al Tayer Insignia. The principal private label brands offered by the Company include Alfani, And Now This, Aqua, Bar III, Belgique, Cerulean 6, Charter Club, Club Room, Epic Threads, Family PJ's, first impressions, Giani Bernini, Holiday Lane, Home Design, Hotel Collection, Hudson Park, Ideology, and others.