Macy’s Inc. (NYSE:M) shares are trading higher after the company reported better-than-expected fourth quarter financial results and issued guidance.
Bloomingdale’s Exceptional Performance
The department store reported fourth-quarter adjusted earnings of $1.67, beating the consensus of $1.53.
Sales decreased 1.7%2 to $7.6 billion, beating the consensus of $7.615 billion.
Comparable sales up 1.8%, reflecting positive comparable sales at each of the company’s nameplates, exceeding the company’s guidance.
Margins Impacted By Tariffs, In Line With Expectations
Gross margin of 35.2% decreased 50 basis points. The decline was primarily attributable to an approximately 60 basis point tariff impact, which was in line with the company’s expectations.
The company said Bloomingdale’s achieved its best holiday performance on record in the fourth quarter, as