{"id":10230,"date":"2024-02-27T18:10:26","date_gmt":"2024-02-27T12:40:26","guid":{"rendered":"https:\/\/bigbreakingwire.in\/macys-impressive-q4-performance-surges-past-earnings-estimates-with-adjusted-eps-of-2-45-and-strong-gross-margin-of-37-5\/"},"modified":"2024-02-27T18:10:26","modified_gmt":"2024-02-27T12:40:26","slug":"macys-impressive-q4-performance-surges-past-earnings-estimates-with-adjusted-eps-of-2-45-and-strong-gross-margin-of-37-5","status":"publish","type":"post","link":"https:\/\/bigbreakingwire.in\/macys-impressive-q4-performance-surges-past-earnings-estimates-with-adjusted-eps-of-2-45-and-strong-gross-margin-of-37-5\/","title":{"rendered":"Macy’s Impressive Q4 Performance: Surges Past Earnings Estimates with Adjusted EPS of $2.45 and Strong Gross Margin of 37.5%"},"content":{"rendered":"
<\/div>\n

Macy’s Q4 Earnings Highlights:<\/strong>
– Adjusted EPS exceeds estimates at $2.45 (Estimated: $1.99) \ud83d\udfe2
– Net Sales at $8.12B meet expectations (YoY decrease of 1.7%) \ud83d\udfe2
– Gross Margin stands at 37.5%, surpassing the estimated 36.5% \ud83d\udfe2
– Inventory at $4.36B, slightly above the estimated $4.29B \ud83d\udfe2
– Owned plus licensed comparable sales down by 4.2%, beating the estimated -5.73% \ud83d\udfe2
– Adjusted net income of $685M surpasses the estimated $553.9M \ud83d\udfe2
– Owned basis comparable sales show a decrease of 5.4%

FY’25 Guidance:<\/strong>
– Net Sales expected to range between $22.2B to $22.9B (Estimated: $22.99B) \ud83d\udd34
– Adjusted EPS forecasted between $2.45 to $2.85 (Estimated: $2.75) \ud83d\udfe1
– Owned plus Licensed Comparable Sales expected to range from -1.5% to +1.5% (Estimated: +0.71%) \ud83d\udfe1

Strategic Updates:<\/strong>
– Plan to close 150 underproductive locations by 2026.
– Anticipate $600M to $750M in proceeds from closures and asset sales by 2026.
– Bloomingdale’s and Bluemercury footprint to increase by up to 45 locations by 2026.
– $950M asset-impairment charge, primarily linked to store closures.
– Digital sales decline by 4%, while brick-and-mortar sales remain relatively flat.
– Commitment to invest in the remaining 350 Macy’s stores.

CEO Commentary:<\/strong>
– CEO emphasizes “A Bold New Chapter,” challenging the status quo to fundamentally reposition the company.
– Aims to enhance the customer experience, deliver growth, and unlock shareholder value.<\/p>\n","protected":false},"excerpt":{"rendered":"

Macy’s Q4 Earnings Highlights:– Adjusted EPS exceeds estimates at $2.45 (Estimated: $1.99) \ud83d\udfe2– Net Sales at $8.12B meet expectations (YoY decrease of 1.7%) \ud83d\udfe2– Gross…<\/p>\n","protected":false},"author":1,"featured_media":10229,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[31,29,619],"tags":[1516,1365,1361,1514,1515,1513,1069,1480],"class_list":["post-10230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-finance","category-stocks-in-news","tag-business-news","tag-earnings-report","tag-financial-performance","tag-gross-margin","tag-inventory","tag-macys","tag-q4-earnings","tag-sales","entry","rows"],"jetpack_publicize_connections":[],"modified_by":null,"jetpack_featured_media_url":"https:\/\/bigbreakingwire.in\/wp-content\/uploads\/2024\/02\/bltfc0dcb17a1fb5909-Macy27s_222.png","jetpack_shortlink":"https:\/\/wp.me\/pfgCxS-2F0","jetpack_sharing_enabled":true,"jetpack_likes_enabled":false,"_links":{"self":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/posts\/10230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/comments?post=10230"}],"version-history":[{"count":0,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/posts\/10230\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/media\/10229"}],"wp:attachment":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/media?parent=10230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/categories?post=10230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/tags?post=10230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}