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Macy's (M) Q3 Earnings Preview: What You Should Know Beyond the Headline Estimates

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Wall Street analysts expect Macy's (M - Free Report) to post quarterly loss of $0.01 per share in its upcoming report, which indicates a year-over-year decline of 104.8%. Revenues are expected to be $4.72 billion, down 2.9% from the year-ago quarter.

The consensus EPS estimate for the quarter has undergone a downward revision of 1.2% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

In light of this perspective, let's dive into the average estimates of certain Macy's metrics that are commonly tracked and forecasted by Wall Street analysts.

The average prediction of analysts places 'Net Sales' at $4.74 billion. The estimate points to a change of -2.4% from the year-ago quarter.

It is projected by analysts that the 'Net Sales- Other Revenue- Macy's Media Network revenue, net' will reach $42.31 million. The estimate indicates a year-over-year change of +17.5%.

The combined assessment of analysts suggests that 'Store Count - End of Period - Bluemercury' will likely reach 160. Compared to the current estimate, the company reported 158 in the same quarter of the previous year.

Analysts expect 'Macy's Stores - Boxes (EOP)' to come in at 510. Compared to the present estimate, the company reported 568 in the same quarter last year.

The consensus estimate for 'Consolidated Number of stores' stands at 728. The estimate compares to the year-ago value of 784.

View all Key Company Metrics for Macy's here>>>

Macy's shares have witnessed a change of -5.1% in the past month, in contrast to the Zacks S&P 500 composite's +1% move. With a Zacks Rank #3 (Hold), M is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>


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