Macy's Real Estate Sales Will Continue in 2018
Earlier this month, Macy's (NYSE:M) reported a tentative turnaround in sales trends for the November-December holiday shopping period. As a result, the struggling department store giant modestly raised its full-year earnings per share guidance. Macy's now expects to post adjusted EPS of $3.11-$3.21 -- including a $0.05 benefit from federal tax reform -- up from $2.91-$3.16 previously.
Despite the improving sales trends, many analysts expect Macy's to face continued earnings pressure in 2018. The average 2018 EPS estimate -- which probably ignores the recently implemented tax reform law -- is just $2.86.