Macy’s (M) Drops as Net Income Dwindles, Revenues Flat

We recently published 10 Stocks Losing Their Fire. Macy’s Inc. is one of the worst performers on Thursday.

Macy’s extended its losing streak to a third straight day on Thursday, shedding 0.62 percent to close at $22.32 apiece as investors took path from its earnings performance in the third quarter of the year.

At intra-day trading, the stock dropped by as much as 3.6 percent.

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In an updated report, Macy’s Inc. said net income dwindled by 60.7 percent to $11 million from $28 million in the same period last year, while net sales and total revenues ended flat at $4.7 billion and $4.9 billion, respectively.

Net sales, however, exceeded the company’s previous guidance range of $4.5 billion to $4.6 billion.

It can be recalled that Macy’s Inc. announced earlier plans to close 150 underperforming stores by the end of 2026. Of the total, 50 were planned for this year.

Looking ahead, the company raised its full-year guidance for full-year 2025 to a range of $21.475 billion to $21.625 billion from its previous outlook of $21.15 billion to $21.45 billion.

Adjusted EBITDA is also targeted to grow higher at a range of 7.8 percent to 8 percent, versus 7.4 percent to 7.9 percent previously. Adjusted EPS is pegged at $2 to $2.20 versus $1.70 to $2.05 prior.

For the fourth quarter alone, net sales are projected at $7.35 billion to $7.50 billion, while adjusted EPS is expected at $1.35 to $1.55.

Following the results, Macy’s Inc. earned a higher price target of $21 from TD Cowen, versus $17 previously, while maintaining a “hold” recommendation on the stock.

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This article is originally published at Insider Monkey.