07:23 AM EST, 12/11/2024 (MT Newswires) -- Macy's (M) reported fiscal Q3 adjusted earnings Wednesday of $0.04 per diluted share, down from $0.21 a year earlier.

Analysts polled by FactSet expected $0.03.

Total revenue for the quarter ended Nov. 2 was $4.90 billion, down from $5.04 billion a year earlier.

A single analyst surveyed by FactSet expected $4.74 billion.

For fiscal 2024, Macy's said it now expects adjusted diluted EPS in the range of $2.25 to $2.50, down from its prior outlook of $2.55 to $2.90. Analysts polled by FactSet expect $2.73.

Net sales for the fiscal year are now projected to be between $22.3 billion and $22.5 billion, compared with its previous range of $22.1 billion to $22.4 billion. Four analysts surveyed by FactSet expect $22.18 billion.

Shares of the company were down 9% in recent Wednesday premarket activity.