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. This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.If you wish to learn more about our subscription plans and become a paying subscriber, click here. This document was generated for Other research you may be interested in: Weinswig’s Weekly: Understanding the Scale and Demographics of Cross-Channel ShoppingAmazon Apparel US Consumer Survey 2023—Infographic: Understanding Amazon Fashion and Why Consumers Choose ItShoptalk Europe 2023 Wrap-Up: Exploring the Role of Key Technologies and Channels in the Future of Retail—Autonomous Stores, Generative AI, Retail Media and MoreStore Tracker Extra: US and UK Store Openings and Closures 2022 Review and 2023 Outlook