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Macy’s Q3 EPS down to 36 cents from 61 cents

Staff writer ▼ | November 12, 2015
Macy’s reported earnings per share of 36 cents in the third quarter of 2015, ended October 31, 2015.
Macy’s
Retail   Impairment charges were $111 million
Excluding asset impairment charges of $111 million, or 20 cents per share, primarily related to the previously-announced plans to close 35 to 40 stores in early 2016, third quarter earnings per share were 56 cents per share.

This compares with 61 cents per diluted share in the third quarter of 2014.

For the first three quarters of 2015, Macy’s, Inc.’s diluted earnings per share were $1.56. Excluding asset impairment charges of $111 million, or 20 cents per share, primarily related to planned 2016 store closings, year-to-date earnings per diluted share were $1.76.

This compares with earnings of $2.01 per diluted share in the first three quarters of 2014.

Macy's, Inc. will reduce capital spending to less than $1 billion in 2016 from the $1.2 billion expected in 2015.


 

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