Macy’s Inc. Shows Q3 Declines But Raises 2022 Earnings Outlook

Net sales declined 3.9 percent to $5.23 billion from $5.44 billion in the year-ago quarter, but were up 1.1 percent compared to the third quarter of 2019. Comparable sales declined 3.1 percent on an owned basis and were down 2.7 percent on an owned-plus-licensed basis.

“Our Polaris strategy is working. In the third quarter, we achieved solid top-line results and a strong beat to our bottom-line guidance. Macy’s brand position as a style and fashion source resonated with our customers, while luxury continued to outperform at Bloomingdale’s and Bluemercury,” said Jeff Gennette, chairman and chief executive officer of Macy’s Inc. “is detail, and our talented and agile team are executing well to compete.

Macy’s reaffirmed its forecast for $24.34 billion in annual sales this year, and raised its earnings expectations to $4.07 to $4.27 per diluted share, from $4 to $4.20.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How CBRE Group Inc. is reexamining its own office space - Jacksonville Business JournalThe Business Journals recently caught up with Peter Van Emburgh, senior vice president and global head of real estate at CBRE Group Inc., in the company's Atlanta office. Van Emburgh oversees about 7 million square feet of office space across 600 locations globally for CBRE.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

Biggest Movers: BCH Climbs to 1-Week High, DOT Declines – Market Updates Bitcoin NewsBitcoin cash rose to a one-week high in today’s session, despite crypto markets mostly trading lower. Polkadot fell 5% today. Brilliant! I have recently started using ChiefraFba for signals I think this project is very promising. And that's why I often spend usdt to buy $BCH
Source: BTCTN - 🏆 531. / 51 Read more »