Macy’s adjusted EPS (earnings per share) missed consensus Wall Street analyst estimates in the first two quarters of fiscal 2015. The company exceeded the analyst earnings estimate in 3Q15. A decline in the company’s earnings for a third consecutive quarter and dismal guidance adversely impacted its stock price. Macy’s stock declined by 14% on November 11, the day its third quarter results were announced.
Macy’s 3Q15 adjusted EPS declined by 8.2% to $0.56, mainly due to lower sales. The company’s net income, including one-time items, declined by 45.6% to $118 million in 3Q15 because of lower sales and an asset impairment charge of $111 million related to planned store closures.
In Part 3 of this series, we’ll look at the continued weakness in Macy’s sales.
View more information: https://marketrealist.com/2015/12/macys-investors-disappointed-2015-stock-falls-46/