Macy's Inc. (M) announced earnings for third quarter that Decreased from the same period last year but beat the Street estimates.
The company's bottom line came in at $11 million, or $0.04 per share. This compares with $28 million, or $0.10 per share, last year.
Excluding items, Macy's Inc. reported adjusted earnings of $26 million or $0.09 per share for the period.
Analysts on average had expected the company to earn -$0.13 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 0.2% to $4.913 billion from $4.903 billion last year.
Macy's Inc. earnings at a glance (GAAP) :
-Earnings: $11 Mln. vs. $28 Mln. last year.-EPS: $0.04 vs. $0.10 last year.-Revenue: $4.913 Bln vs. $4.903 Bln last year.
Looking ahead, for the full year, the company has revised up its guidance.
“Full-year guidance continues to assume the consumer is more choiceful in the fourth quarter of 2025. It also assumes that current tariffs remain in place and provides flexibility to respond to changes in consumer demand and the competitive landscape,” Macy's Inc. said.
The company now anticipates adjusted income of $2 to $2.20 per share, higher than the earlier outlook of $1.70 to $2.05 per share.
Macy's Inc. now projects sales of $21.475 billion to $21.625 billion against the previous guidance of $21.15 billion to $21.45 billion.
On average, analysts polled forecast the firm to earn $2 per share, on revenue of $21.31 billion for the year. Analysts’ estimates typically exclude special items.
M was down by 3.08% at $22 in the pre-market trade on the New York Stock Exchange.
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