Net income attributable to shareholders was $166 million or $0.53 per share compared to $111 million or $0.36 per share last year. Adjusted net income was $185 million or $0.59 per share.
Macy’s revised its guidance for full-year 2018. The company now expects adjusted diluted EPS to be $3.95 to $4.15. Total sales growth is expected to range from flat to a 0.7% increase. Comparable sales on an owned plus licensed basis are expected to increase between 2.1% to 2.5%. Comp sales on an owned basis are expected to be 20 basis points to 30 basis points below comp sales on an owned plus licensed basis.
Macy’s saw strength across all its operating divisions – Macy’s, Bloomingdale’s and Bluemercury. The company’s brick & mortar business along with its online business performed well during the quarter, helped by the strategic initiatives it has been undertaking over the past couple of months. Despite this, sales are still seeing pressure from shifts in consumer trends and Amazon’s strong e-commerce presence.
Related: Macy’s Q2 2018 Earnings Transcript
Related: Earnings Preview: Will Macy’s continue its mojo?
Related: Macy’s Q1 2018 Earnings Infographic
