Macy's Reports Strong Earnings, Good Outlook and Strategic Initiatives [Forbes]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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Source: Forbes
Macy’s reported 3 rd quarter 2018 total comparable store sales increase of 3.3% and an increase of 28.5% of fully diluted earnings per share of $0.27. It prompted the company to raise full year projections by $0.15, from $3.95 - $4.15 to $4.10 – 4.30. That is good news. In the quarter, the company enjoyed strong sales increases in the North-East and Mid-West. Management was happy with increases in most stores and credited the success to several initiatives they had undertaken. They saw increased sales due to their loyalty program; customers understand its offers, and that has generated strong repeat business. The program has been expanded into a new “bronze” program which has already gotten two million additional members. The Backstage off-price initiative has been working and has generated more business for the “upstairs” stores as well. As a result, they have also added to the sales growth of the enterprise. There are now 166 Backstage locations, of which 60 have been open
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M
Earnings
- 2/27/24 - Beat
M
Sec Filings
- 4/19/24 - Form 3
- 4/19/24 - Form 3
- 4/19/24 - Form 3
- M's page on the SEC website