Macy's Sees FY24 Adj. EPS $2.45-$2.85 vs $3.01 Est., Net Sales $22.2B-$22.9B vs $23.32B Est.
Portfolio Pulse from Benzinga Newsdesk
Macy's has provided guidance for FY24, projecting adjusted EPS to be between $2.45 and $2.85, which is below the estimated $3.01. Additionally, the company expects net sales to range from $22.2 billion to $22.9 billion, falling short of the estimated $23.32 billion.
February 27, 2024 | 11:57 am
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Macy's projects lower-than-expected FY24 adjusted EPS and net sales, indicating potential challenges ahead.
Macy's guidance for FY24 falls below analyst expectations for both adjusted EPS and net sales, which could lead to negative investor sentiment and a potential decrease in stock price in the short term. Lower-than-expected financial forecasts often result in decreased investor confidence and can impact stock performance negatively.
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