The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
CINCINNATI, United States — Macy's Inc. is reporting fiscal fourth-quarter net income of $475 million.
The Cincinnati-based department store chain said it had net income of $1.54 per share. Earnings, adjusted for non-recurring costs, came to $2.02 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.97 per share.
Macy's posted revenue of $8.52 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $8.58 billion.
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The company expects full-year earnings in the range of $2.90 to $3.15 per share.
Macy's shares have decreased roughly 10 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 5 percent. The stock has decreased 21 percent in the last 12 months.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
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