Macy’s, Inc. (NYSE: M) on Wednesday reported a pointy enhance in adjusted earnings for the second quarter of 2024 when the division retailer chain’s gross sales decreased 4%.
Internet gross sales decreased 4% year-over-year to $4.94 billion within the July quarter. Comparable gross sales have been down 4% on an owned foundation and down 3.3% on an owned-plus-licensed-plus-marketplace foundation.
Adjusted earnings greater than doubled to $0.53 per share within the second quarter. Internet earnings was $150 million or $0.53 per share in Q2, in comparison with a lack of $22 million or $0.08 per share final 12 months.
