Categories AlphaGraphs, 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
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
Should investors worry about Micron’s (MU) weak Q4 results and guidance?
The semiconductor industry is a rapidly growing business segment that currently thrives on the digital transformation wave. The demand for memory chips and other semiconductor products increased over the years,
What has Bed Bath & Beyond (BBBY) outlined for this fiscal year?
Shares of Bed Bath & Beyond (NASDAQ: BBBY) were up on Friday, a day after the company delivered disappointing results for the second quarter of 2022. The company reported a
NKE Earnings: Highlights of Nike’s Q1 2023 results
Nike, Inc. (NYSE: NKE) has reported a decrease in net profit for the first quarter of 2023, despite a modest increase in revenues. The company's stock suffered a big loss
