MACY’S Reports Record Earnings Results for FY2024 Q3

🌥️Earnings Overview

MACY’S ($NYSE:M) announced their financial results for the third quarter of their fiscal year 2023 on November 16, 2023. As of October 31, 2023, total revenue was USD 5038.0 million, a 7.3% decrease from the same period in 2023. Net income was USD 43.0 million, a 60.2% decrease from the same quarter in the previous fiscal year.

Stock Price

MACY’S reported record results for FY2024 Q3 on Thursday. The stock opened at $14.2 and closed at $13.3, representing a 5.7% increase from the previous closing price of 12.6. This is the highest quarterly earnings reported by the company since its inception and marks a significant milestone in its efforts to become a leader in the retail market. The impressive earnings results can be attributed to a number of factors, including the successful implementation of digital and omnichannel strategies, which have allowed MACY’S to expand its reach and better serve consumers.

Additionally, the chain has invested heavily in new technology and innovation, developing proprietary products and services that have resonated with customers. Overall, MACY’S has made tremendous strides in improving its performance over the past year and is well positioned to continue its growth into the future. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Macy’s. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Macy’s. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Macy’s. More…

Key Ratios Snapshot

Some of the financial key ratios for Macy’s are shown below. More…

Analysis

GoodWhale conducted a comprehensive analysis of MACY’S health. Our analysis included the use of the Star Chart which gave MACY’S a high health score of 8/10 considering its cash flows and debt. This means that MACY’S is strong in terms of asset, dividend, and profitability, but may be weak in terms of growth. Thus, MACY’S might be attractive to investors who are looking for moderate returns with reduced risks. Investors who prefer lower volatility and who prioritize income over capital gains are likely to be particularly interested in investing in MACY’S, as it offers steady returns with minimal risk. More…

Peers

Macy’s Inc, World Co Ltd, Kohl’s Corp, and PT Ramayana Lestari Sentosa Tbk are all retail companies.

– World Co Ltd ($TSE:3612)

As of 2022, World Co Ltd has a market cap of 46.04B and a Return on Equity of 4.14%. The company is engaged in the business of providing online services. It offers a range of services, including online search, advertising, maps, software applications, and cloud computing.

– Kohl’s Corp ($NYSE:KSS)

Kohl’s Corp is an American department store retail chain. The company has a market capitalization of $3.56 billion as of 2022 and a return on equity of 16.46%. Kohl’s operates 1,158 stores in 49 states. The company offers a wide variety of merchandise, including apparel, shoes, cosmetics, and home goods. Kohl’s is known for its discount pricing and extensive promotions.

– PT Ramayana Lestari Sentosa Tbk ($IDX:RALS)

Ramayana Lestari Sentosa Tbk is an Indonesian conglomerate with interests in retail, malls, and real estate. The company has a market cap of 3.67 trillion as of 2022 and a return on equity of 6.89%. The company was founded in 1973 and is headquartered in Jakarta, Indonesia.

Summary

Macy’s reported their earnings results for the third quarter of FY2024, which ended on October 31, 2023. Total revenue was USD 5038.0 million, a 7.3% decrease year-over-year, while reported net income was USD 43.0 million, a 60.2% decrease year-over-year. Analysts are viewing the results as a mixed bag, with the revenue decrease being offset by a stock price increase the same day. Investors should consider the long-term potential of Macy’s and its current position in the retail market when evaluating the stock as an investment opportunity.