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

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

Most Popular

AVGO Earnings: Broadcom Q4 profit beats estimates; revenue up 4%

Semiconductor company Broadcom, Inc. (NASDAQ: AVGO) on Thursday reported stronger-than-expected earnings for the fourth quarter. The tech firm also provided guidance for fiscal 2024. Earnings, excluding non-recurring items, came in

Costco’s (COST) stock hits a record high ahead of earnings. Here’s what to look for

As Costco Wholesale Corporation (NASDAQ: COST) prepares to publish its first-quarter earnings, the warehouse behemoth’s stock climbed to an all-time high this week. When it reports the results next week,

Dollar General (DG) faces challenges from inventory shrink in Q3

Shares of Dollar General Corporation (NYSE: DG) turned red on Thursday despite the company delivering better-than-expected results for the third quarter of 2023. The stock has dropped 46% year-to-date. Although

Add Comment
Viewing Highlight