M - Macy's Non-GAAP EPS of $0.56 revenue of $4.98B cuts FY2023 outlook
2023-06-01 06:58:59 ET
- Macy's press release ( NYSE: M ): Q1 Non-GAAP EPS of $0.56.
- Revenue of $4.98B (-6.9% Y/Y).
- Comparable sales down 7.9% on an owned basis and down 7.2% on an owned-plus-licensed basis.
- The company is taking a cautious approach to the remainder of the year and is reducing its annual 2023 sales and earnings guidance to reflect anticipated macroeconomic impacts to the consumer.
- The company now expects FY2023 sale in the range of $22.8B to $23.2B from $23.7B to $24.2B and Adjusted diluted earnings per share between $2.70 to $3.20 from $3.67 to $4.11.
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Macy's Non-GAAP EPS of $0.56, revenue of $4.98B, cuts FY2023 outlook