Insight Report 2 minutes PremiumMacy’s (M) 3Q16 Results: 3Q Trends Positive Indicator for Holiday Coresight Research November 11, 2016 Executive Summary Macy’s reported adjusted 3Q16 EPS of $0.17 versus the consensus estimate of $0.41. The miss was driven by SG&A expenses. Total revenues were $5.63 billion, inline with analysts’ expectations. Comparable-store sales declined by 3.3% on an owned basis and by 2.7% on an owned-plus-licensed basis. Sales results accelerated in the third quarter relative to the first half of the year and management expressed confidence that it will be able to reach its targets for the fourth quarter, owing in part to improved trends in the apparel business. The company reaffirmed its full-year EPS guidance of $3.15–$3.40 versus consensus of $3.37. Comps on an owned-plus-licensed basis are expected to be (2.5)%–(3.0)% versus (3.0)%–(4.0)% previously. Comps on an owned basis are expected to be 50basis points lower. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for Other research you may be interested in: Groceryshop 2023 Day One: Startup Pitch Winners, Generative AI, Unified Shopping and MoreEconomic Sentiment Converges as Pessimism Eases: US Consumer Survey InsightsApril 2023 US Housing Market Indicators: All Home Sales See Year-Over-Year DeclinesInnovator Profile: MadeMeBuyIt Simplifies Procurement Through a Centralized B2B Marketplace