Macy's (M) comparable sales were roughly flat quarter-to-date

Macy’s, Inc. (NYSE: M) today provided an update on its fiscal fourth quarter 2024 results and outlook.

Macy’s, Inc. go-forward business achieved quarter-to-date1 comparable sales2 growth, with Macy’s First 50 locations and luxury nameplates Bloomingdale’s and Bluemercury all continuing their trend of positive comparable sales2. Macy’s digital channel also achieved comparable sales2 growth for the period1.

Macy’s, Inc. comparable sales2 were roughly flat quarter-to-date1 with Macy’s non-First 50 locations, inclusive of non-go-forward locations, performing below expectations and generating negative comparable sales2.

The company expects fourth quarter 2024 adjusted diluted earnings per share to be in-line with the previously issued range of $1.40 to $1.65 and net sales to be at, to slightly below, the low-end of the previously issued range of $7.8 billion to $8.0 billion.

“Our Bold New Chapter strategy continues to gain traction, putting us on track to achieve our second quarter of sequential comparable sales2 improvement,” said Macy’s, Inc. chairman and chief executive officer Tony Spring. “Reflecting ongoing positive response to Macy’s First 50 locations, we are excited to expand initiatives to an additional 75 Macy’s locations in Fiscal 2025. We are well-positioned to build momentum with a stronger Macy’s store fleet and our teams focused on the successful execution of the three pillars of our Bold New Chapter strategy.”

The company expects to report full results for the fourth quarter and fiscal year 2024 in early March 2025.

Tony Spring, Adrian Mitchell, Macy’s, Inc. chief operating officer and chief financial officer, and Nata Dvir, Macy’s chief merchandising officer, will be participating in the 2025 ICR Conference in Orlando, FL. The company is scheduled to participate in a fireside chat at 8:00 a.m. ET on Tuesday, January 14, 2025. A live webcast of the event will be available on the investor relations section of the Macy’s, Inc. website at www.macysinc.com/investors. A recording of the webcast will be available on the same website for 90 days following the event.

1: Defined as the 9-week period ended January 4, 2025 versus the 9-week period ended December 30, 2023.
2: Comparable sales represents comparable sales on an owned-plus-licensed-plus-marketplace basis for Macy’s, Inc., Macy’s, Inc. go-forward business, Macy’s digital and Bloomingdale’s; comparable sales on an owned-plus-licensed basis for Macy’s First 50 and non-First 50 locations; and comparable sales on an owned basis for Bluemercury.

About Macy’s, Inc.

Macy’s, Inc. (NYSE: M) is a trusted source for quality brands through our iconic nameplates – Macy’s, Bloomingdale’s and Bluemercury. Headquartered in New York City, our comprehensive digital and nationwide footprint empowers us to deliver a seamless shopping experience for our customers. For more information, visit macysinc.com.

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