logo
Plus   Neg
Share
Email

Macy's Reiterates FY20 Outlook - Quick Facts

While reporting its financial results for the fourth quarter on Tuesday, Macy's, Inc. (M) reiterated its adjusted earnings and net sales guidance for the full-year 2020.

For fiscal 2020, the company continues to project adjusted earnings in the range of $2.45 to $2.65 per share and adjusted earnings, excluding asset sale gains, in a the range of $2.20 to $2.40 per share.

The company also comparable sales for owned plus licensed to decline 2.5 to 1.5 percent and owned basis to be about 40 basis points better than owned plus licensed.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.45 per share on a revenue decline of 3.0 percent to $23.81 billion for the year. Analysts' estimates typically exclude special items.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Samsung Electronics Co Ltd (SMSN.L, SSNNF.OB, SSNLF.OB) expects that its first-quarter operating profit will increase about 2.73 percent from last year, sales will also increase 4.98 percent. JPMorgan Chase CEO Jamie Dimon said it expects the bank's earnings to be "down meaningfully" in 2020 due to the disruptions created by coronavirus pandemic. He also noted that the U.S. was not adequately prepared for the pandemic. In his annual letter to the company's shareholders, Dimon said that the bank's board may consider suspending the dividend in an extremely adverse scenario. The U.S. Food and Drug Administration launched a national effort to facilitate the development of blood-related therapies to combat the ongoing coronavirus (COVID-19) pandemic. The FDA is focused on two investigational therapies derived from human blood called convalescent plasma and hyperimmune globulin, which are antibody-rich blood products made from blood donated by people who have recovered.
Follow RTT
>