M - Macy's Q1 Surprises With Profit Beat And Upgraded Outlook Amid Sales Challenges – Here's The Scoop | Benzinga
Macy’s Inc (NYSE:M) shares are trading higher after the company reported better-than-expected first-quarter adjusted EPS and raised the outlook.
The company reported a first-quarter FY24 sales decline of 2.7% year-on-year to $4.846 billion, slightly missing the analyst consensus of $4.86 billion.
Comparable sales decreased 1.2% on an owned basis and down 0.3% on an owned plus licensed basis. First 50 locations comparable sales, included within go-forward locations comparable sales, gained 3.3% on an owned basis and grew 3.4% on an owned-plus-licensed basis.
The operating margin ...