Macy's to report Q2 earnings as it doubles down on new strategy, ends buyout deal discussions

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 51 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 31%
  • Publisher: 63%

Macy Noticias

Earnings Per Share,Turnaround Strategy

Macy's is set to report its Q2 results against a difficult consumer backdrop.

On Wednesday, Wall Street expects the department store chain to report $5.06 billion in revenue, a 1.4% year over year decline. Same store sales are expected to be down 0.49%, while adjusted earnings per share is estimated to drop from $0.29 to $0.26.

The strategy includes closing underperforming stores, improving remaining "go forward" locations, and investing in digital sales. "The chain’s weekly foot traffic has remained at or above 2023 levels since the middle of the month – likely spurred by back-to-school shopping and sales," Placer.ai Citi analyst Paul Lejuez expects the company to beat Q2 expectations, but does not expect it to raise guidance, adding in a note to clients "they will likely want to remain cautious given the macro backdrop."MONTREAL — Quebec Premier François Legault has announced a six-month freeze on certain temporary foreign worker applications in Montreal, in a move intended to put pressure on Ottawa to reduce the number of non-permanent residents in the province.

Younger adults may be feeling more financially stressed than older adults -- and it appears to be impacting their mental health. Check Out: 6 Things Frugal Boomers Never Buy Read Next: 7 Reasons Gen Z...

Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más:

 /  🏆 47. in ES
 

Gracias por tu comentario. Tu comentario será publicado después de ser revisado.

España Últimas Noticias, España Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Google parent Alphabet to report Q2 earnings Tuesday with AI, ad spending front and centerGoogle parent Alphabet will report its Q2 earnings after the bell on Tuesday.
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »

MicroStrategy’s Q2 earnings: Will its Bitcoin bet finally pay off?Microstrategy to release Q2 2024 earnings report. Earnings Preview shows uncertainty and decline in net profit.
Fuente: CryptoAmb - 🏆 22. / 68 Leer más »

Nvidia’s earnings could turn around the ailing AI tradeNvidia will report its fiscal Q2 earnings on Aug. 28, and if the results are as stellar as they've been in recent quarters, it could help turn around the AI ...
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »