Macy's (M) Drops as Net Income Dwindles, Revenues Flat

We recently published 10 Stocks Losing Their Fire. Macy’s Inc. (NYSE:M) is one of the worst performers on Thursday.

Macy’s extended its losing streak to a third straight day on Thursday, shedding 0.62 percent to close at $22.32 apiece as investors took path from its earnings performance in the third quarter of the year.

At intra-day trading, the stock dropped by as much as 3.6 percent.

In an updated report, Macy’s Inc. (NYSE:M) said net income dwindled by 60.7 percent to $11 million from $28 million in the same period last year, while net sales and total revenues ended flat at $4.7 billion and $4.9 billion, respectively.

Net sales, however, exceeded the company’s previous guidance range of $4.5 billion to $4.6 billion.

It can be recalled that Macy’s Inc. (NYSE:M) announced earlier plans to close 150 underperforming stores by the end of 2026. Of the total, 50 were planned for this year.

Looking ahead, the company raised its full-year guidance for full-year 2025 to a range of $21.475 billion to $21.625 billion from its previous outlook of $21.15 billion to $21.45 billion.

Adjusted EBITDA is also targeted to grow higher at a range of 7.8 percent to 8 percent, versus 7.4 percent to 7.9 percent previously. Adjusted EPS is pegged at $2 to $2.20 versus $1.70 to $2.05 prior.

For the fourth quarter alone, net sales are projected at $7.35 billion to $7.50 billion, while adjusted EPS is expected at $1.35 to $1.55.

Following the results, Macy’s Inc. (NYSE:M) earned a higher price target of $21 from TD Cowen, versus $17 previously, while maintaining a “hold” recommendation on the stock.

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Disclosure: None. This article is originally published at Insider Monkey.