Macy's up on annual forecast raise

Macy's

03/12/2025 12:07

** Shares of department store chain Macy's  up about 1% at $23 in premarket trading

** Co raises its annual sales and profit targets for the second time this year, as its turnaround efforts, including store closures, smaller store formats, and expanded online assortment, begin to boost demand

** Now expects FY25 net sales to be between $21.475 billion and $21.625 billion compared with its prior forecast of $21.15 billion to $21.45 billion

** Also expects annual adjusted EPS to be between $2 and $2.20 vs $1.70 to $2.05 expected earlier

** Logs quarterly net sales of $4.71 billion, beating estimates of $4.62 billion

** As of last close, stock was up ~34% YTD

(Reporting by Sanskriti Shekhar in Bengaluru)

((Sanskriti.Shekhar@thomsonreuters.com))