Categories AlphaGraphs, Earnings, Retail

M Earnings: All you need to know about Macy’s Q2 2022 earnings results

Macy’s, Inc. (NYSE: M) reported second quarter 2022 earnings results today.

Net sales dipped slightly to $5.60 billion from $5.65 billion in the same quarter a year ago. Comparable sales were down 1.5% on an owned basis and down 1.6% on an owned plus licensed basis.

Net income dropped to $275 million, or $0.99 per share, from $345 million, or $1.08 per share, a year ago. Adjusted EPS amounted to $1.00.

Both revenue and adjusted earnings topped expectations.

Macy’s lowered its guidance for FY2022 as it expects to see a reduction in consumer spending on discretionary items amid a challenging macro-environment. The company now expects net sales to range between $24.3-24.5 billion and adjusted EPS to come between $4.00-4.20 versus the previous range of sales of $24.5-24.7 billion and adjusted EPS of $4.53-4.95.

Prior performance

Macy's Q1 2022 Earnings Infographic

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