Macy’s reported adjusted EPS of $0.13, beating estimates of $0.03, and raised its full-year guidance on strong Bloomingdale’s performance.
Macy’s Inc. (NYSE:M) reported first-quarter adjusted earnings per share of $0.13, surpassing analyst estimates of $0.03. Net sales reached $4.68 billion, above the expected $4.61 billion, driven by a 3.0% increase in comparable sales across all banners.
The company saw gains at Macy’s (1.6%), Bloomingdale’s (10.2%), and Bluemercury (6.4%). Net sales rose 1.8% year over year to $4.7 billion. Macy’s also lifted its full-year guidance, now expecting adjusted EPS of $2.00 to $2.20, up from $1.90 to $2.10, and net sales of $21.5 billion to $21.75 billion.
Shares edged about 1% higher following the announcement, reflecting investor confidence in the company’s strategic momentum and continued strength at Bloomingdale’s.