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Macy's Fiscal Q2 Adjusted Earning Rise, Revenue Fall; Trims Fiscal 2024 Revenue Guidance
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Macy's Fiscal Q2 Adjusted Earning Rise, Revenue Fall; Trims Fiscal 2024 Revenue Guidance
Aug 21, 2024 7:31 AM

07:30 AM EDT, 08/21/2024 (MT Newswires) -- Macy's (M) reported fiscal Q2 adjusted diluted earnings Wednesday of $0.53, up from $0.26 a year earlier.

Analysts polled by Capital IQ expected $0.29.

Revenue for the quarter ended Aug. 3 was $5.10 billion, down from $5.28 billion a year earlier.

Analysts surveyed by Capital IQ expected $5.05 billion.

The company reaffirmed its fiscal 2024 adjusted diluted earnings per share of $2.55 to $2.90. Analysts surveyed by Capital IQ expect $2.78.

Revenue for the fiscal year is now projected to be $22.1 billion to $22.4 billion, down from $22.3 billion to $22.9 billion previously, the company said. Analysts polled by Capital IQ expect $22.48 billion.

Shares of the company were down 8% in recent premarket activity.

Price: 16.31, Change: -1.43, Percent Change: -8.06

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