Benzinga | Aug 19, 2021 07:09AM EDT

Macy's: Q2 Earnings Insights



Shares of Macy's (NYSE:M) fell 1.8% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share rose 259.26% year over year to $1.29, which beat the estimate of $0.14.

Revenue of $5,647,000,000 up by 58.67% year over year, which beat the estimate of $4,980,000,000.

Looking Ahead

Macy's raised its FY21 EPS guidance from $1.71-$2.12 to $3.41-$3.75.

The company also raised sales forecast from $21.73 billion-$22.23 billion to $23.55 billion-$23.95 billion.

Details Of The Call

Date: Aug 19, 2021

Time: 08:00 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/tfkjk89b

Technicals

Company's 52-week high was at $22.30

Company's 52-week low was at $5.57

Price action over last quarter: down 5.48%

Company Overview

Founded in 1858, Macy's operates nearly 600 stores under the Macy's brand, 55 stores under the Bloomingdale's brand, and about 162 freestanding Bluemercury specialty beauty stores. Macy's also operates e-commerce sites, owns 65% of a Chinese e-commerce joint venture, and licenses two Bloomingdale's stores in the United Arab Emirates and Kuwait. Women's apparel, accessories, shoes, cosmetics, and fragrances constituted 58% of Macy's 2020 sales. The retailer recently consolidated its headquarters in New York City.