• Linkdin
Maximize your media exposure with Fibre2Fashion's single PR package  |   Know More

US retailer Macy's revenue forecast at $22.8-$23.2 bn in FY23

06 Jun '23
2 min read
Pic: Dee Dalasio / Shutterstock.com
Pic: Dee Dalasio / Shutterstock.com

Insights

  • American retailer Macy's has projected a decline in revenue for FY23, with net sales projected at $22.8-$23.2 billion.
  • In terms of comparable owned-plus-licensed sales change, Macy's expects a decline of 7.5-6 per cent for the FY23 in comparison to FY22.
  • The company's adjusted EPS guidance for FY23 is revised to $2.70-$3.20, from $3.67-$4.11.
Macy's, Inc, a leading American department store chain, has released its fiscal 2023 (FY23) guidance, revealing a projected decline in revenue and adjusting its earnings expectations. The net sales projection for FY23 stands between $22.8 billion and $23.2 billion. This forecast marks a revision from the previous guidance of $23.7 billion to $24.2 billion, as of March 2, 2023.

In terms of comparable owned-plus-licensed sales change, Macy's expects a decline of 7.5-6 per cent for FY23 in comparison to FY22. This guidance has been revised from the earlier projection of a 4-2 per cent decline, the company said in a press release.

Furthermore, Macy's has adjusted its expectations for adjusted diluted earnings per share (EPS) for FY23. The new range is set at $2.70-$3.20, representing a decrease from the previous guidance range of $3.67-$4.11.

“We have moved quickly to take the appropriate actions to meet current consumer demand and manage our expenses. Our revised guidance reflects incremental clearance markdowns to address excess spring seasonal merchandise in the second quarter, along with adjustments to the category composition and inventory levels in the back half of the year. Supported by our solid foundation of financial health, we remain focused on strengthening our core business and advancing our five growth vectors, which we believe will drive sustainable and profitable sales growth in the future,” said Jeff Gennette, chairman and chief executive officer of Macy’s.

Fibre2Fashion News Desk (DP)

Leave your Comments

Esteemed Clients

Woolmark Services India Pvt. Ltd.
Weitmann & Konrad GmbH & Co. KG
VNU Exhibitions Asia
USTER
UBM China (Shanghai)
Tuyap Tum Fuarcilik Yapim A.S.
TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
X
Advanced Search