Comparable sales were down 2% on an owned basis and down 1.2% on an owned-plus-licensed-plus-marketplace basis.
GAAP net income was $38 million, or $0.13 per share, compared to $62 million, or $0.22 per share, last year. Adjusted EPS was $0.16.
Revenue and earnings beat expectations.
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For fiscal year 2025, Macy’s expects net sales of $21.0-21.4 billion. Comparable owned-plus-licensed-plus-marketplace sales is expected to be down around 2% to down around 0.5% versus FY2024. The company lowered its outlook for adjusted EPS to a range of $1.60-2.00 versus the previous range of $2.05-2.25.
The stock was up 4% in premarket hours on Wednesday.
Prior performance
