Macy’s reports Q3 adjusted EPS 9c, consensus (13c)

Reports Q3 revenue $4.7B, consensus $4.56B. Reports Q3 comparable sales up 2.5% on an owned basis and up 3.2% on a comparable owned-plus-licensed-plus-marketplace basis, surpassing the company’s guidance range and benefiting from better-than-expected performance across nameplates. “Our third quarter sales were the strongest in 13 quarters, reflecting the acceleration of our Bold New Chapter strategy and demonstrating that the meaningful enterprise-wide changes we’ve made are resonating with customers,” said Tony Spring, chairman and chief executive officer of Macy’s (M), Inc. “As we enter the holiday season, we are well-positioned with compelling new merchandise and an omni-channel customer experience that delivers both inspiration and value. With a strategy rooted in hospitality, our teams are focused on driving long-term, profitable growth.”