Macy's: Poised for Another Great Quarter
Three months ago, Macy's (NYSE: M) smashed analysts' expectations -- as well as its own guidance -- with a solid first-quarter earnings report. While sales remained below pre-pandemic levels, adjusted earnings per share actually exceeded the company's result from the first quarter of fiscal 2019, thanks to a strong margin performance.
Following its big Q1 earnings beat, Macy's raised its guidance for the rest of the year. Nevertheless, management continued to take a conservative view of the U.S. retail environment. That has Macy's on pace to crush its guidance and the analyst consensus again when it releases its second-quarter earnings report later this week.
In May, Macy's projected that it would post second-quarter sales of $4.9 billion to $5 billion: down 10% to 12% relative to the same period two years earlier. It also called for adjusted EPS between $0.03 and $0.12, compared to $0.28 in the second quarter of fiscal 2019.
Source Fool.com
