FY24 consensus $2.62. Narrows FY24 revenue view to $22.3B-$22.9B from $22.2B-$22.9B, consensus $22.81B. Sees FY24 comparable owned-plus-licensed-plus-marketplace sales change down ~1.0% to up 1.5% versus 2023 compared to prior view of down ~1.5% to up 1.5% versus 2023. The company updated its annual sales and earnings outlook to reflect a portion of first quarter performance along with the dynamic macro environment. The company continues to view 2024 as a transition and investment year, reflecting investments in key customer-focused strategic initiatives, supported by the company’s strong balance sheet. The updated outlook assumes customers will continue to be discerning in their discretionary purchases and provides flexibility to respond to the competitive landscape and promotional environment.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on M:
- Options Volatility and Implied Earnings Moves This Week, May 20 – May 23, 2024
- Appaloosa takes new positions in Adobe and Boeing, boosts Alibaba stake
- Macy’s price target lowered to $19 from $20 at Morgan Stanley
- Macy’s call volume above normal and directionally bullish
- Macy’s (NYSE:M) Appoints New Directors and Ends Proxy Battle