Macy's (NYSE:M) is expected to report Q3 earnings before the open on Wednesday, November 9, with a conference call scheduled for 10:30 am ET.
Analysts are looking for a profit of 16c on revenue of $5.89B. The consensus range is 13c-20c for EPS, and revenue of $5.85B-$5.95B, according to First Call. During the first two months of the quarter that just ended, the company's same store sales grew nearly 5%, but more recently Macy's reported October same store sales increased by only 2.2%. At the time of the October report, the company said it was "confident" it will grow Q4 comparable sales by 4%-4.5%. As part of its strategy to reach those holiday quarter sales goals, the retailer was among the first to announce plans to open at midnight on Black Friday.
Analysts have recently been positive on the stock, with Nomura, JP Morgan, and Northcoast all initiating coverage on the stock with Buy ratings during October.