Macy’s Inc. (NYSE:M) stock fell Thursday after the department store operator issued a weaker-than-expected third-quarter earnings outlook.
Macy’s Earnings Beat Estimates
Macy’s reported adjusted earnings of 40 cents per share, excluding a 23-cent benefit from tariff refunds. That topped the 37-cent consensus estimate.
Sales rose 1.1% year over year to $4.866 billion, beating the $4.826 billion estimate. Sales increased 1.9% excluding the impact of fiscal 2025 store closures.
The company received $98 million in tariff refunds during the quarter and another $18 million after quarter-end, bringing the total to $116 million.
