Macy’s Inc., impacted by higher levels of markdowns to clear spring merchandise and customers pulling back on spending, reported second-quarter top- and bottom-line declines but said the outcomes were higher than expected.
The web loss got here to $22 million for the quarter ended July 29, in comparison with a $275 million profit within the year-ago period. The loss included a non-cash settlement charge related to the transfer of pension obligations for certain retirees and beneficiaries.
Diluted loss per share of $0.08 and adjusted diluted earnings per share of $0.26 last quarter in comparison with diluted EPS of $0.99 and adjusted EPS of $1 within the second quarter of 2022.
Earnings before interest, taxes, depreciation and amortization were $221 million in the...
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