M - Macy's: Earnings Guidance Could Drive The Narrative
Source: Barron's
Macy's (M) reports quarterly earnings November 21st. Analysts expect revenue of $5.32 billion and eps of $0. The revenue estimate implies a 5% decline Y/Y. Investors should focus on the following key items.
Stagnant Revenue Growth
Last quarter Macy's reported net sales of $5.5 billion and credit card revenue of $176 million. Net sales were flat, while credit card revenue fell 1% Y/Y. Credit card penetration increased 10 basis points to 46.7%, aided by Star Rewards loyalty. However, fraud and bad debt increased slightly. Backstage, the company's on-mall, off-price business helped