MADRID, 22 Ago. (EUROPA PRESS) –
The Macy’s department store chain closed its second fiscal quarter, which ended in July, with net losses of 22 million dollars (20 million euros), compared to the profit of 275 million dollars (252 million euros) in the same period of previous year, as reported by the company on Tuesday.
In the quarter, Macy’s net sales reached 5,130 million dollars (4,710 million euros), 8.4% less. Specifically, sales in physical stores decreased by 8% year-on-year and digital revenues by 10%.
In this way, in the whole of the first six months of its fiscal year, Macy’s recorded a net profit of 133 million dollars (122 million euros), 76.3% less, after reducing its sales by 7.6%. sales, up to 10,112 million dollars (9,285 million euros).
“In the second quarter, we delivered better-than-expected outperformance,” said Jeff Gennette, Macy’s chairman and chief executive officer, who cautioned that the company continues to see “uncertainty in the macroeconomic environment.”
“Looking forward, we are committed to strengthening our core business and improving our customer experience while investing in our five growth vectors. We believe these advancements, made possible by our great talent, will drive our relevance and long-term success as a modern department stores,” he added.
For the year as a whole, Macy’s has confirmed its expectations for results, including sales of between 22,800 and 23,200 million dollars (20,934 to 21,302 million euros) and adjusted earnings per share of between 2.70 and 3.20 dollars.
