Macy’s on Thursday reported third-quarter adjusted earnings per share (EPS) of $1.23 on revenue of $5.4 billion. Both numbers topped consensus analyst estimates of 31 cents and $5.2 billion, respectively. Revenue was up 35.3 percent from a year ago.
Macy’s reported 35.6 percent comparable-store sales growth, exceeding analyst estimates of 29.3 percent. Online sales were up 19 percent year-over-year and 49 percent on a two-year basis. Macy’s said online sales now make up 33 percent of total sales, up from just 23 percent in 2019.
