Macy’s expects fourth-quarter adjusted diluted earnings per share to be within the previously reported range of $1.40 to $1.65. Net sales are expected to be at the low end or slightly below previous guidance of $7.8 billion to $8 billion.
The company said Tuesday that Macy’s comparable sales remained nearly flat. Macy’s stores outside of the First 50 locations, including discontinued locations, fell short of expectations and posted negative comparable sales.
“Our bold new chapter strategy continues to gain momentum and puts us on track to achieve our second consecutive quarter of comparable sales improvement,” said Tony Spring, Chairman and Chief Executive Officer of Macy’s, Inc.
The company’s continuing operations achieved quarter-to-date comparable sales growth, with the first 50 Macy’s stores and the Bloomingdale’s and Bluemercury brands continuing their positive comparable sales trend. Macy’s digital channel also achieved comparable sales growth during the period.
“Given the continued positive response to the first 50 Macy’s stores, we are pleased to expand the initiatives to an additional 75 Macy’s stores in fiscal 2025,” Spring added.
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