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Compared to Estimates, Macy's (M) Q1 Earnings: A Look at Key Metrics

Zacks Equity Research
·2-min read

Macy's (M) reported $4.85 billion in revenue for the quarter ended April 2024, representing a year-over-year decline of 2.7%. EPS of $0.27 for the same period compares to $0.56 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $4.84 billion, representing a surprise of +0.21%. The company delivered an EPS surprise of +50.00%, with the consensus EPS estimate being $0.18.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how Macy's performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Store Count - End of Period - Bluemercury: 158 versus the four-analyst average estimate of 161.

  • Comparable store sales - Owned basis - YoY change (Domestic retail): -1.2% versus -2.3% estimated by four analysts on average.

  • Macy's Stores - Boxes (EOP): 503 versus 520 estimated by four analysts on average.

  • Consolidated Number of stores: 718 compared to the 745 average estimate based on three analysts.

  • Net Sales: $4.85 billion versus the four-analyst average estimate of $4.82 billion. The reported number represents a year-over-year change of -2.7%.

  • Net Sales- Other Revenue: $154 million versus the four-analyst average estimate of $142.87 million.

  • Net Sales- Other Revenue- Macy's Media Network revenue, net: $37 million versus the two-analyst average estimate of $33.97 million.

  • Net Sales- Other Revenue- Credit card revenues, net: $117 million versus the two-analyst average estimate of $108.55 million. The reported number represents a year-over-year change of -27.8%.

View all Key Company Metrics for Macy's here>>>

Shares of Macy's have returned +1.9% over the past month versus the Zacks S&P 500 composite's +7.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research