Categories AlphaGraphs, Consumer, Earnings
Earnings: Macy’s (M) Q2 2024 adjusted profit jumps despite lower sales
Macy’s, Inc. (NYSE: M) on Wednesday reported a sharp increase in adjusted earnings for the second quarter of 2024 when the department store chain’s sales decreased 4%.
Net sales decreased 4% year-over-year to $4.94 billion in the July quarter. Comparable sales were down 4% on an owned basis and down 3.3% on an owned-plus-licensed-plus-marketplace basis.
Adjusted earnings more than doubled to $0.53 per share in the second quarter. Net income was $150 million or $0.53 per share in Q2, compared to a loss of $22 million or $0.08 per share last year.
Prior Performance
Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.
Most Popular
Despite cautious guidance, Adobe may continue AI-driven growth
Adobe Inc. (NASDAQ: ADBE) has reported record-high revenues for the most recent quarter but issued fourth-quarter guidance that fell short of expectations, raising concerns about the prospects of its AI
How is Macy’s (M) making progress on its new strategy?
Shares of Macy’s, Inc. (NYSE: M) stayed red on Monday. The stock has dropped 18% over the past three months. The company saw its sales decrease in the second quarter
Earnings Preview: AutoZone (AZO) likely to report higher Q4 sales and profit
AutoZone, Inc. (NYSE: AZO) is expected to publish fourth-quarter results on September 24, before the opening bell, with analysts forecasting strong growth in sales and profit. Over the years, there
