{"id":35033,"date":"2023-11-16T12:30:28","date_gmt":"2023-11-16T12:30:28","guid":{"rendered":"https:\/\/isafespend.com\/news\/macys-stock-pops-10-as-inventory-margin-improvement-help-profit-beat-estimates\/"},"modified":"2023-11-16T12:30:29","modified_gmt":"2023-11-16T12:30:29","slug":"macys-stock-pops-10-as-inventory-margin-improvement-help-profit-beat-estimates","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=35033","title":{"rendered":"Macy&#8217;s stock pops 10% as inventory, margin improvement help profit beat estimates"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-6\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-6-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">Macy&#8217;s<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> on Thursday topped Wall Street&#8217;s quarterly expectations, as inventory and margin improvement helped offset an 7% year-over-year decline in sales.<\/p>\n<p>The department store chain&#8217;s shares popped more than 10% in premarket trading.<\/p>\n<p>Here&#8217;s what the retailer reported for the fiscal third quarter compared with what analysts expected, according to consensus estimates from LSEG, formerly known as Refinitiv:<\/p>\n<ul>\n<li>Earnings per share: 21 cents adjusted vs. 0 cents expected<\/li>\n<li>Revenue: $4.86 billion vs. $4.82 billion expected<\/li>\n<\/ul>\n<p>In the three month period that ended Oct. 28, Macy&#8217;s net income fell to $43 million, or 15 cents per share, from $108 million, or 39 cents per share a year earlier. Excluding certain items, per-share earnings were 21 cents.<\/p>\n<p>The company&#8217;s revenue fell from $5.23 billion in the year-ago period.<\/p>\n<p>Macy&#8217;s also adjusted its full-year guidance. It raised the low end of its expected sales range to $22.9 billion from $22.8 billion. For comparable, or same-store sales, the company said it expects a decline of up to 7%, an improvement from its previous estimate of a 7.5% decline at most. <\/p>\n<p>For full-year adjusted EPS, Macy&#8217;s now projects a tighter range of $2.88 to $3.13, versus an earlier estimate of $2.70 to $3.20.<\/p>\n<p>Macy&#8217;s has looked for new drivers of growth, as it tries to refresh its legacy brand. As sales as its namesake mall stores lag, the company announced in October that it would open up to 30 smaller stores in strip malls over the next two years. It has also refreshed some of its private brands and launched new ones, such as On 34th, a new women&#8217;s clothing brand.<\/p>\n<p>The company&#8217;s strongest sales have come from higher-end department store chain, Bloomingdale&#8217;s, and its beauty chain, Bluemercury.<\/p>\n<p>Overall, on an owned-plus-licensed basis, the company reported a same-store sales decline of 6.3%, better than the 7.75% decline expected by analysts.<\/p>\n<p>On an owned basis, Bluemercury posted comparable sales growth of 2.5%, while Bloomingdale&#8217;s reported a 3.2% decline. The namesake Macy&#8217;s chain saw comparable sales fall 7.6%. The company said beauty and cosmetics were strong points across all three brands.<\/p>\n<p>Lower permanent markdowns on merchandise helped boost the company&#8217;s gross margin to 40.3% from 38.7% a year earlier. Merchandise inventories fell 6%.<\/p>\n<p>Shares of Macy&#8217;s closed on Wednesday at $12.61, up 7.5%. The company&#8217;s stock has struggled this year, falling nearly 39% compared to the 17% gains of the S&amp;P 500.<\/p>\n<\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnbc.com\/2023\/11\/16\/macys-m-earnings-q3-2023.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Macy&#8217;s on Thursday topped Wall Street&#8217;s quarterly expectations, as inventory and margin improvement helped offset an 7% year-over-year decline in sales. The department store chain&#8217;s shares popped more than 10% in premarket trading. Here&#8217;s what the retailer reported for the fiscal third quarter compared with what analysts expected, according to consensus estimates from LSEG, formerly<\/p>\n","protected":false},"author":1,"featured_media":35034,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-35033","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Macy&#039;s stock pops 10% as inventory, margin improvement help profit beat estimates | iSafeSpend<\/title>\n<meta name=\"description\" content=\"Macy&#039;s on Thursday topped Wall Street&#039;s quarterly expectations, as inventory and margin improvement helped offset an 7% year-over-year decline in\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/isafespend.com\/?p=35033\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macy&#039;s stock pops 10% as inventory, margin improvement help profit beat estimates | iSafeSpend\" \/>\n<meta property=\"og:description\" content=\"Macy&#039;s on Thursday topped Wall Street&#039;s quarterly expectations, as inventory and margin improvement helped offset an 7% year-over-year decline in\" \/>\n<meta property=\"og:url\" content=\"https:\/\/isafespend.com\/?p=35033\" \/>\n<meta property=\"og:site_name\" content=\"iSafeSpend\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-16T12:30:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-16T12:30:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/11\/107289967-1692705587025-gettyimages-1630401354-macysnewyork0007.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/isafespend.com\/?p=35033#article\",\"isPartOf\":{\"@id\":\"https:\/\/isafespend.com\/?p=35033\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf\"},\"headline\":\"Macy&#8217;s stock pops 10% as inventory, margin improvement help profit beat estimates\",\"datePublished\":\"2023-11-16T12:30:28+00:00\",\"dateModified\":\"2023-11-16T12:30:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/isafespend.com\/?p=35033\"},\"wordCount\":396,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/isafespend.com\/#organization\"},\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/isafespend.com\/?p=35033#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/isafespend.com\/?p=35033\",\"url\":\"https:\/\/isafespend.com\/?p=35033\",\"name\":\"Macy's stock pops 10% as inventory, margin improvement help profit beat estimates | iSafeSpend\",\"isPartOf\":{\"@id\":\"https:\/\/isafespend.com\/#website\"},\"datePublished\":\"2023-11-16T12:30:28+00:00\",\"dateModified\":\"2023-11-16T12:30:29+00:00\",\"description\":\"Macy's on Thursday topped Wall Street's quarterly expectations, as inventory and margin improvement helped offset an 7% year-over-year decline in\",\"breadcrumb\":{\"@id\":\"https:\/\/isafespend.com\/?p=35033#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/isafespend.com\/?p=35033\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/isafespend.com\/?p=35033#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/isafespend.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Macy&#8217;s stock pops 10% as inventory, margin improvement help profit beat estimates\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/isafespend.com\/#website\",\"url\":\"https:\/\/isafespend.com\/\",\"name\":\"Solutions For Real\",\"description\":\"Latest Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/isafespend.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/isafespend.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/isafespend.com\/#organization\",\"name\":\"Solutions For Real\",\"url\":\"https:\/\/isafespend.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"contentUrl\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"width\":690,\"height\":64,\"caption\":\"Solutions For Real\"},\"image\":{\"@id\":\"https:\/\/isafespend.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"contentUrl\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/isafespend.com\"],\"url\":\"https:\/\/isafespend.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Macy's stock pops 10% as inventory, margin improvement help profit beat estimates | iSafeSpend","description":"Macy's on Thursday topped Wall Street's quarterly expectations, as inventory and margin improvement helped offset an 7% year-over-year decline in","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/isafespend.com\/?p=35033","og_locale":"en_US","og_type":"article","og_title":"Macy's stock pops 10% as inventory, margin improvement help profit beat estimates | iSafeSpend","og_description":"Macy's on Thursday topped Wall Street's quarterly expectations, as inventory and margin improvement helped offset an 7% year-over-year decline in","og_url":"https:\/\/isafespend.com\/?p=35033","og_site_name":"iSafeSpend","article_published_time":"2023-11-16T12:30:28+00:00","article_modified_time":"2023-11-16T12:30:29+00:00","og_image":[{"width":1920,"height":1080,"url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/11\/107289967-1692705587025-gettyimages-1630401354-macysnewyork0007.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/isafespend.com\/?p=35033#article","isPartOf":{"@id":"https:\/\/isafespend.com\/?p=35033"},"author":{"name":"News Room","@id":"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf"},"headline":"Macy&#8217;s stock pops 10% as inventory, margin improvement help profit beat estimates","datePublished":"2023-11-16T12:30:28+00:00","dateModified":"2023-11-16T12:30:29+00:00","mainEntityOfPage":{"@id":"https:\/\/isafespend.com\/?p=35033"},"wordCount":396,"commentCount":0,"publisher":{"@id":"https:\/\/isafespend.com\/#organization"},"articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/isafespend.com\/?p=35033#respond"]}]},{"@type":"WebPage","@id":"https:\/\/isafespend.com\/?p=35033","url":"https:\/\/isafespend.com\/?p=35033","name":"Macy's stock pops 10% as inventory, margin improvement help profit beat estimates | iSafeSpend","isPartOf":{"@id":"https:\/\/isafespend.com\/#website"},"datePublished":"2023-11-16T12:30:28+00:00","dateModified":"2023-11-16T12:30:29+00:00","description":"Macy's on Thursday topped Wall Street's quarterly expectations, as inventory and margin improvement helped offset an 7% year-over-year decline in","breadcrumb":{"@id":"https:\/\/isafespend.com\/?p=35033#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/isafespend.com\/?p=35033"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/isafespend.com\/?p=35033#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/isafespend.com\/"},{"@type":"ListItem","position":2,"name":"Macy&#8217;s stock pops 10% as inventory, margin improvement help profit beat estimates"}]},{"@type":"WebSite","@id":"https:\/\/isafespend.com\/#website","url":"https:\/\/isafespend.com\/","name":"Solutions For Real","description":"Latest Finance News and Updates","publisher":{"@id":"https:\/\/isafespend.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/isafespend.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/isafespend.com\/#organization","name":"Solutions For Real","url":"https:\/\/isafespend.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/isafespend.com\/#\/schema\/logo\/image\/","url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","contentUrl":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","width":690,"height":64,"caption":"Solutions For Real"},"image":{"@id":"https:\/\/isafespend.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/isafespend.com\/#\/schema\/person\/image\/","url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","contentUrl":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","caption":"News Room"},"sameAs":["https:\/\/isafespend.com"],"url":"https:\/\/isafespend.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/35033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35033"}],"version-history":[{"count":1,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/35033\/revisions"}],"predecessor-version":[{"id":35035,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/35033\/revisions\/35035"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/media\/35034"}],"wp:attachment":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}