Company News: Macy's (M) quarterly earnings beat analysts’ forecast

Market news

21 November 2019

Company News: Macy's (M) quarterly earnings beat analysts’ forecast

Macy's (M) reported Q3 FY 2019 earnings of $0.07 per share (versus $0.27 in Q3 FY 2018), beating analysts’ consensus estimate of -$0.01.

The company’s quarterly revenues amounted to $5.173 bln (-4.3% y/y), missing analysts’ consensus estimate of $5.315 bln.

The company also issued downside guidance for FY 2019, projecting EPS of $2.57-2.77 (prior guidance of $2.85-3.05) vs. analysts’ consensus estimate of $2.80 and revenues of $24.35-24.47 bln (down 2-2.5%, previously saw approximately flat) vs. analysts’ consensus estimate of $24.85 bln.

M fell to $14.30 (-4.79 %) in pre-market trading.

U.S. may delay December 15 tariff increase if agreement is not reached by then – SCMP reports, citing sources

Volatility should remain elevated amid trade uncertainty – TDS

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