Macy's, Inc. Real Estate Sales Will Continue in 2018 [The Motley Fool]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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Source: The Motley Fool
Nearly 20% of Macy's income for fiscal 2017 will come from asset sale gains -- but that doesn't mean its profitability is unsustainable. Earlier this month, Macy's ( NYSE:M ) reported a tentative turnaround in sales trends for the November-December holiday shopping period. As a result, the struggling department store giant modestly raised its full-year earnings per share guidance. Macy's now expects to post adjusted EPS of $3.11-$3.21 -- including a $0.05 benefit from federal tax reform -- up from $2.91-$3.16 previously. Despite the improving sales trends, many analysts expect Macy's to face continued earnings pressure in 2018. The average 2018 EPS estimate -- which probably ignores the recently implemented tax reform law -- is just $2.86. Bears often point out that Macy's adjusted EPS forecast for 2017 includes $275 million-$300 million of expected real estate gains, which will add about $0.60 to EPS. They see these gains as unsustainable. However, while that may
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M
Earnings
- 2/27/24 - Beat
M
Sec Filings
- 4/15/24 - Form ARS
- 4/15/24 - Form DEF
- 4/10/24 - Form 8-K
- M's page on the SEC website