Q4 24 EPS
$2.45
BEAT +25.00%
Est. $1.96
Q4 24 Revenue
$8.38B
BEAT +2.71%
Est. $8.15B
vs S&P Since Q4 24
-17.9%
TRAILING MARKET
M +29.4% vs S&P +47.3%
Full Year 2024 Results
FY 24 EPS
$3.50
FY 24 Revenue
$23.87B
Market Reaction
Did M Beat Earnings? Q4 2024 Results
Macy's closed out fiscal 2023 with a stronger-than-expected quarter, delivering adjusted diluted EPS of $2.45 against a consensus estimate of $1.96, a beat of 25.00%, as improved merchandise margins and disciplined cost management offset a broader sa… Read more Macy's closed out fiscal 2023 with a stronger-than-expected quarter, delivering adjusted diluted EPS of $2.45 against a consensus estimate of $1.96, a beat of 25.00%, as improved merchandise margins and disciplined cost management offset a broader sales decline. Revenue came in at $8.38 billion, ahead of the $8.15 billion consensus by 2.71%, though net sales still fell 1.8% year-over-year as comparable owned-plus-licensed sales slid 4.2% on a 13-week basis. The standout driver was gross margin expansion of 340 basis points to 37.5%, fueled by lower clearance markdowns and better delivery expense leverage. The results arrived alongside the company's sweeping "A Bold New Chapter" strategic plan, which calls for closing roughly 150 underperforming Macy's locations while reinvesting in approximately 350 go-forward stores and expanding Bloomingdale's and Bluemercury. Looking ahead, management guided fiscal 2024 net sales of $22.20 billion to $22.90 billion and adjusted diluted EPS of $2.45 to $2.85, framing the year as a transition period before anticipated low-single-digit comparable sales growth resumes in 2025.
Key Takeaways
- • Gross margin expansion of 340 basis points driven by lower clearance markdowns and improved delivery expense
- • Beauty strength across nameplates, particularly fragrances and prestige cosmetics
- • Bluemercury comparable sales growth of 2.3% driven by skincare and color cosmetics
- • SG&A expense discipline resulted in $51 million reduction year-over-year
- • Brick-and-mortar sales roughly flat while digital sales decreased 4%
M YoY Financials
Q4 2024 vs Q4 2023, source: SEC Filings
M Revenue by Segment
With YoY comparisons, source: SEC Filings
“I am grateful to all our teams for their continued commitment to our customers during the holiday season. Throughout the fourth quarter, we delivered an improved omnichannel experience, with effective merchandising and a clear demonstration of value that resulted in a strong close to the year.”
— Tony Spring, Q4 2024 Earnings Press Release
M Earnings Trends
M vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
M EPS Trend
Earnings per share: estimate vs actual
M Revenue Trend
Quarterly revenue: estimate vs actual
M Quarterly Results
11 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 27 BEAT | $0.03 | $0.13 | +359.36% | $4.89B | +6.06% |
| Q4 26 BEAT FY | $1.56 | $1.67 | +6.85% | $7.92B | +5.43% |
| FY Full Year | $2.20 | $2.32 | +5.29% | $22.62B | +4.57% |
| Q3 26 BEAT | $-0.13 | $0.09 | +168.18% | $4.91B | +7.78% |
| Q2 26 BEAT | $0.19 | $0.41 | +119.72% | $5.00B | +6.31% |
| Q1 26 BEAT | $0.15 | $0.16 | +6.60% | $4.79B | +8.26% |
| Q4 25 BEAT FY | $1.54 | $1.80 | +16.68% | $8.01B | +3.24% |
| FY Full Year | — | $2.64 | — | $23.01B | — |
| Q3 25 BEAT | $0.03 | $0.04 | +58.73% | $4.90B | +3.91% |
| Q2 25 BEAT | $0.30 | $0.53 | +76.67% | $5.10B | -0.44% |
| Q1 25 BEAT | $0.15 | $0.27 | +80.00% | $5.00B | +2.85% |
| Q4 24 BEAT FY | $1.96 | $2.45 | +25.00% | $8.38B | +2.71% |
| FY Full Year | — | $3.50 | — | $23.87B | — |
| Q3 24 | — | — | — | $4.74B | — |