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Macy's Reports Q4 Earnings Beat

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Macy's Reports Q4 Earnings Beat

Macy's (NYSE: M) reported fourth-quarter earnings of $2.12 per share on Tuesday, which beat the analyst consensus estimate of $1.96 by 8.16%. This is a 22.34% decrease over earnings of $2.73 per share from the same period last year.

The company reported quarterly sales of $8.337 billion, which beat the analyst consensus estimate of $8.32 billion by 0.20%. This is a 1.40% decrease over sales of $8.455 billion the same period last year.

Macy's sees fiscal year 2020 adjusted EPS $2.45-$2.65 versus the $2.75 estimate and sales at $23.6-$23.9 billion versus the $24.54 billion estimate.

"Taken as a whole, 2019 did not play out as we intended for Macy's, Inc," said Jeff Gennette, CEO of Macy's. "However, we executed well during the Holiday 2019 season. We were pleased with the significant trend improvement in the fourth quarter, including a meaningful sales uptick in the 10 shopping days before Christmas."

Macy's traded up 2.5% at $15.83 in Tuesday's pre-market session. The stock has a 52-week high of $26.33 and a 52-week low of $14.11.

Related Links:

Macy's Announces Lower Guidance, Will Close 125 Stores

Macy's Trades Higher On Positive Holiday Sales Update

 

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