Macy’s, Inc. (NYSE: M) reported first quarter 2024 earnings results today.
Net sales decreased 2.7% year-over-year to $4.8 billion. Comparable sales were down 1.2% on an owned basis and down 0.3% on an owned-plus-licensed-plus-marketplace basis.
Net income was $62 million, or $0.22 per share, compared to $155 million, or $0.56 per share, last year. Adjusted EPS was $0.27.
For the full year of 2024, net sales are expected to be $22.3-22.9 billion. Comparable owned-plus-licensed-plus-marketplace sales are expected to be down 1% to up 1.5% versus last year. Adjusted EPS is expected to be $2.55-2.90.