Macy’s posted total sales of $5.55 billion for the second quarter, a 5.4% decrease from the year-ago period that was driven largely by this year’s store closures, according to a company press release. The retailer’s sales beat the FactSet Consensus, cited by MarketWatch, of $5.52 billion. At just under $10.9 billion, Macy’s sales for the year so far are down about 6.4% from this time last year.
Macy’s comparable sales fell 2.8% in Q2 and are down 4% year-to-date. Earnings rose from 3 cents per diluted share in Q2 last year to 38 cents in Q2 2017. Adjusted earnings were 48 cents per share, beating the FactSet consensus of 46 cents, according to MarketWatch.
