Department store giant Macy’s Inc (M) might post a slip in earnings for the third quarter as it posts earnings on Wednesday, Nov 14, before the opening bell.
The Street expects earnings to fall 43.5% to $0.13 per share for the quarter on revenue of $5.44 billion. Investors might react positively to the stock if it beats estimates, but shares might get battered if Macy’s fails to meet analysts’ view.
Business conditions would be a focus on the earnings call this time around, however, there are lower chances of a positive EPS surprise.
Last quarter, Macy’s stock got battered even after earnings of $0.53 per share beat estimates. The company earned $166 million on a top-line of $5.57 billion in Q2.
Back in August, Macy’s also revised its fiscal 2018 guidance for full-year with adjusted diluted EPS of $3.95-4.15 on a total sales growth from flat to a 0.7% higher. Comparable sales growth on an owned plus licensed basis is touted to lie between 2.1% and 2.5%.
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Shares of Macy’s Inc. (NYSE: M) were down 2.7% in morning trade on Wednesday. The stock has gained 37% since the beginning of the year. A day ago, the retailer