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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 $5.17 billion in revenue for the quarter ended April 2023, representing a year-over-year decline of 3.3%. EPS of $0.56 for the same period compares to $1.08 a year ago.

The reported revenue represents a surprise of +1.20% over the Zacks Consensus Estimate of $5.11 billion. With the consensus EPS estimate being $0.46, the EPS surprise was +21.74%.

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:

  • Comparable store sales - YoY change (Domestic retail): -7.9% compared to the -4.84% average estimate based on five analysts.

  • No. of Stores - End of Period - Bluemercury: 158 versus the three-analyst average estimate of 160.

  • Macy's Stores - Boxes (EOP): 566 compared to the 561.67 average estimate based on three analysts.

  • Consolidated Number of stores: 781 versus 781.5 estimated by two analysts on average.

  • Net Sales: $4.98 billion versus the four-analyst average estimate of $5.08 billion. The reported number represents a year-over-year change of -6.8%.

  • Credit card revenues, net: $162 million versus the three-analyst average estimate of $186.12 million. The reported number represents a year-over-year change of -15.2%.

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

Shares of Macy's have returned -11.1% over the past month versus the Zacks S&P 500 composite's +0.4% 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