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Macy's Sales Surge Past Expectations
3 Dec
Summary
- Macy's exceeded sales expectations for the third consecutive quarter.
- Company raised its full-year sales and earnings outlook significantly.
- Comparable sales saw a 3.2% increase companywide.
Macy's has announced its third straight quarter of surpassing sales expectations, signaling strong momentum in its turnaround strategy and achieving its most robust growth in over three years. The company has consequently elevated its full-year financial projections, now anticipating adjusted earnings per share in the range of $2 to $2.20 and net sales between $21.48 billion and $21.63 billion.
The retailer now forecasts flat to approximately 0.5% comparable sales growth, a notable improvement from its earlier projection of a decline. This positive trend is supported by a 3.2% rise in companywide comparable sales during the fiscal third quarter, with the Macy's brand seeing investments in staffing and merchandise to improve performance.
Despite these positive results, Macy's acknowledges potential challenges for the upcoming holiday quarter, including selective consumer spending and persistent tariffs. The company is maintaining a prudent outlook, especially regarding 'aspirational customers,' while emphasizing its departmental store model's advantage in offering diverse merchandise and price points.
