Macy's reduces expectations

Note: This section contains information in English only.
Source: Dukascopy Bank SA


This week, on Wednesday, Macy's stock plummeted more than 14.00%. The shares reacted to the company's quarterly financial results.

The firm beat its earnings per share by 64.51%. EPS were $0.54 instead of expected $0.32. However, the devil is in the details. The firm did not manage to beat its revenue expectations, as it experienced a bigger than forecast decline of sales.

Moreover, Macy's announced a major decrease of future expectations. The retailer has reported weak demand in upscale apparel and accessories segment. In addition, men's clothing, home decor goods and handbags had to be sold with major discounts.
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