Macy's: raises EPS target range
(CercleFinance.com) - Macy's has announced an increase in its full-year targets, with adjusted EPS now expected to be between 3.
95 dollars and 4.15 dollars, against a previous target range of 3.75 dollars - 3.95 dollars, with slight sales growth (0 to 0.7%).
In its second accounting quarter, the department store chain saw its adjusted EPS increase by nearly 60% to 59 cents, largely beating a consensus that was only looking for 50 cents, for revenues expected to fall 1.1% to 5.57 billion dollars.
"Our strategic initiatives are gaining traction. They contributed to our first half results and will continue to have a positive impact on our performance in the back half of the year," said Macy's Chairman and CEO, Jeff Gennette.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
95 dollars and 4.15 dollars, against a previous target range of 3.75 dollars - 3.95 dollars, with slight sales growth (0 to 0.7%).
In its second accounting quarter, the department store chain saw its adjusted EPS increase by nearly 60% to 59 cents, largely beating a consensus that was only looking for 50 cents, for revenues expected to fall 1.1% to 5.57 billion dollars.
"Our strategic initiatives are gaining traction. They contributed to our first half results and will continue to have a positive impact on our performance in the back half of the year," said Macy's Chairman and CEO, Jeff Gennette.
Copyright (c) 2018 CercleFinance.com. All rights reserved.