Macy's falls as downbeat quarterly view clouds annual forecast boost
10/09/2026 14:10
BUZZ-Macy's falls as downbeat quarterly view clouds annual forecast boost Updates
** Shares of Macy's M.N reverse gains to drop ~4% at $20.65 in premarket trading
** Department store's bigger-than-expected current-quarter loss forecast linked to turnaround-fueled increased store investments overshadows raised annual targets
** Expects adjusted loss of 19 cents to 23 cents per share, compared with analysts' estimates of a 6-cent loss - data compiled by LSEG
** Raises fiscal 2026 net sales estimates to $21.68 billion to $21.83 billion, from $21.50 billion to $21.75 billion
** Sees adj. EPS of $2.15 to $2.35 vs prior target of $2.00 to $2.20
** Also beats Q2 sales and profit estimates
** Up to last close, stock down ~2% YTD
(Reporting by Shania S Thomas in Bengaluru)
Recent news on Macy's
See all newsBrief: UFCW Local 3000 Members Ratify New Contract At Five Washington Macy's Locations
Street View: Macy's finds momentum in upscale brands
US STOCKS-S&P 500 ends down as Treasury yields rise and traders fret about inflation
US STOCKS-S&P 500 ends down as Treasury yields rise and traders fret about inflation
US STOCKS-Wall Street dips as Treasury yields rise and investors fret about inflation