* Reports Q3 2019 earnings Thursday, Nov. 21 before the bell
* Consensus EPS: $0.01
* Revenue Expectation: $5.33B
When Macy’s Inc (NYSE:M) reports its third-quarter earnings tomorrow, it has to show that its turnaround is making headway. Especially after its previous two reports, which showed the company’s efforts failing to gain traction, even at a time when other retailers are benefiting from strong consumer spending.
In August, Macy’s reported that comparable sales in the second quarter rose just 0.2% from a year earlier. This weak performance forced the company to cut its 2019 adjusted earnings guidance. It now expects to earn $3.05 a share at most this year, down from an earlier prediction for as much as $3.25.
Before that report, the retailer shocked investors early this year by cutting its full-year earnings expectations, citing weakening sales in categories such as women’s sportswear, fashion jewelry and cosmetics.
That disappointment came in the middle of one of the best growth periods for other retailers as they benefited from the strength of the U.S. economy and robust consumer spending. If Macy’s is unable to benefit in this generally enabling operating environment for retailers, there’s little hope that it can make things work when the economy potentially loses steam down the road.
Read more at : https://www.investing.com/analysis/macys-earnings-preview-turnaround-in-focus-as-stock-plunges-50-200486554