Macy's (M) Tops Q4 EPS by 49c, Comps Rise 28.3%; Won't Spin-Off E-Commerce Unit

Macy's (NYSE: M) reported Q4 EPS of $2.45, $0.49 better than the analyst estimate of $1.96. Revenue for the quarter came in at $8.67 billion versus the consensus estimate of $8.43 billion. Comparable sales up 28.3% on an owned basis and up 27.8% on an owned-plus-licensed basis versus Q4 2020; up 6.6% and up 6.1%, respectively, versus Q4 2019.

The company also announced it won't spin-off its e-commerce unit.

Macy's also announced a $2 billion share repurchase program authorized after completing current $500 million program and raised quarterly dividend by 5%.

GUIDANCE:

Macy's sees FY2022 EPS of $4.13-$4.52, versus the consensus of $4.06. Macy's sees FY2022 revenue of $24.46-24.7 billion, versus the consensus of $24.23 billion.

For earnings history and earnings-related data on Macy's (M) click here.

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