WASHINGTON (dpa-AFX) - While reporting its financial results for the second quarter, Macy's, Inc. (M) on Wednesday lowered its adjusted earnings guidance for the full-year 2019, while reaffirming sales annual sales outlook.
For fiscal 2019, the company slashed its adjusted earnings guidance to a range of $2.85 to $3.05 per share from the previous forecast in the range of $3.05 to $3.25 per share.
However, the company continues to project net sales to be approximately flat with the prior year and full-year comparable sales for both, owned plus licensed basis and owned basis to be flat to up 1 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.07 per share on a revenue decline of 0.30 percent to $24.89 billion for the year. Analysts' estimates typically exclude special items.
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