Macy’s (M) earnings Q1 2023


Macy’s on Thursday slashed its full-year outlook and said it saw sales significantly weaken in March and sag even more in April.

Still, the company’s stock rose more than 1% Thursday after earlier hitting a 52-week low and after the retailer beat fiscal first-quarter earnings expectations.

Here’s how Macy’s did for the three-month period that ended April 29 compared with what Wall Street was anticipating, based on a survey of analysts by Refinitiv:

  • Earnings per share: 56 cents adjusted vs. 45 cents expected
  • Revenue: $4.98 billion vs. $5.04 billion expected

The department store operator said it now expects sales of $22.8 billion to $23.2 billion for the year, down from a previous range of…

Source cnbc.com

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