Macy's, Inc. announced that they anticipate their adjusted earnings per share for the fourth quarter of 2024 to align with the previously projected range of $1.40 to $1.65. However, they expect net sales to be at or slightly below the lower end of the earlier forecasted range of $7.8 billion to $8.0 billion. So far this quarter, the company's comparable sales have remained relatively stable. However, their non-First 50 locations, which include places that are not prioritized for future growth, have underperformed, resulting in negative comparable sales.
"Our Bold New Chapter strategy continues to gain momentum, keeping us on course for our second consecutive quarter of sequential improvement in comparable sales," stated Tony Spring, CEO of Macy's.
