Macy's Lowers FY23 Outlook: Net Sales Of $22.8B - $23.2B ($23.7B-$24.2B Prior) Vs. $24.01B Estimate, Adjusted EPS Of $2.70 - $3.20 ($3.67 - $4.11 Prior) Vs. $3.71 Estimate
Portfolio Pulse from Benzinga Newsdesk
Macy's has lowered its FY23 outlook, with net sales now expected to be between $22.8B and $23.2B, down from the previous range of $23.7B to $24.2B. Adjusted EPS is also reduced to $2.70 - $3.20, compared to the prior estimate of $3.67 - $4.11.
June 01, 2023 | 10:59 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Macy's lowered FY23 outlook may negatively impact its stock price, as net sales and adjusted EPS estimates are reduced.
Macy's has lowered its FY23 outlook, which may lead to a negative impact on its stock price. Investors may be concerned about the company's performance and future growth, as both net sales and adjusted EPS estimates have been reduced. This could result in selling pressure and a decline in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100