Macy’s reports Q2 adjusted EPS 41c, consensus 19c

Reports Q2 revenue $4.8B, consensus $4.7B. Reports Q2 comparable sales up 0.8% on an owned basis and up 1.9% on a comparable owned-plus-licensed-plus-marketplace basis, above the company’s guidance, benefiting from positive comparable sales across nameplates. “Our teams achieved better than expected top- and bottom-line results during the second quarter, driven by our strongest comparable sales growth in 12 quarters, reflecting the strong performance in Macy’s (M) Reimagine 125 locations, Bloomingdale’s and Bluemercury,” said Tony Spring, chairman and chief executive officer of Macy’s, Inc. “Our performance highlights the advantages of being a multi-brand, multi-category, omni-channel retailer. The substantive, enterprise-wide improvements across our business, with a strong focus on customer experience, give us further confidence that our Bold New Chapter initiatives can drive sustainable, long-term profitable growth.”