Macy's (M) reported earnings on Wed 11 May 2016 (b/o)

** charts before earnings **

 

** charts after earnings **

Macy's beats by $0.02, misses on revs; lowers FY17 EPS and sales guidance; raises quarterly dividend 4.9% to $0.3775 :

• Reports Q1 (Apr) earnings of $0.40 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of $0.38; revenues fell 7.4% year/year to $5.77 bln vs the $5.94 bln Capital IQ Consensus. The year-over-year decline in total sales reflects, in part, the 41 stores closed in 2015.
  • Comparable sales on an owned plus licensed basis were down by 5.6 percent in the first quarter. On an owned basis, first quarter comparable sales declined by 6.1 percent.
• Co issues downside guidance for FY17, lowers EPS to $3.15-3.40 from $3.80-3.90 vs. $3.78 Capital IQ Consensus; sees FY17 revs below previous guidance for down 2% (to ~$26.54 bln) vs. $26.51 bln Capital IQ Consensus Estimate.