Macy's Q3 revenues increase, updates full year guidance

American department store operator Macy's said on Wednesday its Q3 revenue for 2018 increased by 2.3 percent. Revising its guidance for the full year, Macy's now expects comparable sales on owned licensed basis to grow in the range of 2.3 percent to 2.5 percent, net sales growth between 0.3 percent to 0.7 percent and diluted EPS excluding settlement, impairment and other costs between 4.10 to 4.30 dollars.

The company’s sales in Q3 2018 were 5,404 million US dollars, up from 5,281 million US dollars a year earlier. Net income increased to 62 million US dollars. The profit margin of the company rose to 1.1 percent compared to 0.6 percent a year ago.

Macy's Inc was founded in 1858 by Rowland Hussey Macy and is based in New York, USA. A specialty retailer operating through Macy’s and Bloomingdale’s department stores and more than 160 specialty stores that include Bloomingdale’s The Outlet, Bluemercury, Macy’s Backstage and Story. The company has conducted the annual Macy's Thanksgiving Day Parade in New York City since 1924 and has sponsored the city's annual fourth of July fireworks display since 1976.

Offering clothing, footwear, accessories, furniture and beauty products, the New York-listed company has about 130,000 employees worldwide and operates more than 800 stores.

Picture:Macy's press room

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