Macy's (M) Q4 Earnings Report Preview: What To Look For

March 05, 2025 at 08:02 AM EST

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Department store chain Macy’s (NYSE: M) will be reporting earnings tomorrow before market hours. Here’s what to look for.

Macy's met analysts’ revenue expectations last quarter, reporting revenues of $4.90 billion, down 2.7% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ EPS estimates but full-year EPS guidance missing analysts’ expectations.

Is Macy's a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Macy’s revenue to decline 4.6% year on year to $7.99 billion, a further deceleration from the 2.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.54 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Macy's has missed Wall Street’s revenue estimates three times over the last two years.

Looking at Macy’s peers in the general merchandise retail segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Dillard’s revenues decreased 5% year on year, beating analysts’ expectations by 1%, and Nordstrom reported a revenue decline of 2.2%, topping estimates by 0.6%. Dillard's traded down 4.3% following the results.

Read our full analysis of Dillard’s results here and Nordstrom’s results here.

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Macy's (M) Q4 Earnings Report Preview: What To Look For

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