Macy’s Inc


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Macy’s, Inc. managed to exceed analyst expectations in terms of revenue as well as earnings. In the third quarter, they reported an adjusted diluted EPS of $0.21, surpassing expectations. Sales, gross margin, and SG&A rates exceeded projections, benefiting from lower interest expenses and a lower-than-anticipated tax rate. Macy’s net sales declined 7.9%, with comparable sales dropping 6.7%. In beauty, particularly fragrances and prestige cosmetics, women’s career sportswear, and men’s tailored clothing, strong performance was noted. However, women’s casual sportswear, big-ticket items, and handbags faced challenges. Noteworthy additions included Nike in 75 stores and online, along with UGG Home in 200 stores and online, both exhibiting promising starts. At Bloomingdale’s, net sales declined 2.6%, and comparable sales were down 4.4%. Top-performing categories included beauty, women’s contemporary, apparel, and shoes, while men’s, home, and designer handbags encountered difficulties. The company introduced new brands like Veronica Beard, Hatch, and Alex Mills and collaborated on an Aqua collection with Kerri Rosenthal. Bluemercury achieved its 11th consecutive quarter of growth, unveiling a redesigned luxury store and spa experience in New Canaan, Connecticut.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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