Department store chain Macy’s, Inc. (NYSE: M) on Thursday said its first-quarter 2023 sales and earnings declined from last year. The company also provided guidance for fiscal 2023.
Net sales declined 7% year-over-year to $4.98 billion in the April quarter when comparable store sales, on an owned and licensed basis, decreased by 7.2%.
The weak top-line performance translated into a 48% fall in adjusted profit to $0.56 per share during the three-month period. Unadjusted net income was $155 million or $0.56 per share, compared to $286 million or $0.98 per share last year.
Prior Performance
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
MRK Earnings: Merck Q1 2024 profit jumps on 9% revenue growth
Pharmaceutical company Merck & Co. Inc. (NYSE: MRK) reported a sharp increase in adjusted earnings for the first quarter of 2024, aided by an increase in revenues. First-quarter worldwide sales
Infographic: A snapshot of Caterpillar’s (CAT) Q1 2024 financial results
Caterpillar Inc. (NYSE: CAT), a leading manufacturer of construction and mining equipment, on Thursday reported first-quarter 2024 financial results. Sales and revenues for the first quarter of 2024 were $15.8
AAL Earnings: Key quarterly highlights from American Airlines’ Q1 2024 financial results
American Airlines Group Inc. (NASDAQ: AAL) reported its first quarter 2024 earnings results today. Total operating revenues increased 3.1% year-over-year to $12.5 billion. Net loss amounted to $312 million, or $0.48