Macy's: Q4 EPS down 23%

(CercleFinance.com) - Macy's has reported adjusted EPS of $1.
88 for Q4 2022, down from $2.45 in Q4 2021, with EBITDA of 887 million dollars, down 28% y-o-y.

The department store chain's sales fell 4.6% to nearly 8.3 billion dollars, in particular weidhed on by its digital sales (-9%). The LFL fall reached 3.3% in directly owned stores alone.

Predicting that the heightened level of uncertainty in the macroeconomic environment will continue into 2023, Macy's expects this year's adjusted EPS between $3.67 and $4.11, with sales of 23.7 to 24.2 billion dollars.


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