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Macy's | 8-K: Macy's, Inc. Reports Preliminary Third Quarter 2024 Results

Macy's | 8-K: Macy's, Inc. Reports Preliminary Third Quarter 2024 Results

梅西百货 | 8-K：梅西百货公布2024年第三季度初步业绩
美股SEC公告 ·  2024/11/25 20:07

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Macy's reported preliminary Q3 2024 results with net sales declining 2.4% to $4.742 billion, while comparable sales decreased 2.4% on an owned basis and 1.3% on owned-plus-licensed-plus-marketplace basis. The company's First 50 locations achieved their third consecutive quarter of positive comparable sales growth at 1.9%, while Bloomingdale's and Bluemercury posted gains of 3.2% and 3.3% respectively.The company discovered an accounting issue where a single employee intentionally concealed $132-154 million in delivery expenses from Q4 2021 through Q3 2024, representing about 3.5% of the $4.36 billion total delivery expenses during this period. As a result, Macy's has delayed its full Q3 earnings release and conference call to December 11, 2024, pending completion of an independent investigation.The retailer ended Q3 with $315 million in cash and $2.77 billion in available credit facility. Inventory levels increased 3.9% year-over-year, with approximately half the increase attributed to cost accounting conversion. The company retired $220 million of debt through a tender offer, with no major debt maturities until 2027.
Macy's reported preliminary Q3 2024 results with net sales declining 2.4% to $4.742 billion, while comparable sales decreased 2.4% on an owned basis and 1.3% on owned-plus-licensed-plus-marketplace basis. The company's First 50 locations achieved their third consecutive quarter of positive comparable sales growth at 1.9%, while Bloomingdale's and Bluemercury posted gains of 3.2% and 3.3% respectively.The company discovered an accounting issue where a single employee intentionally concealed $132-154 million in delivery expenses from Q4 2021 through Q3 2024, representing about 3.5% of the $4.36 billion total delivery expenses during this period. As a result, Macy's has delayed its full Q3 earnings release and conference call to December 11, 2024, pending completion of an independent investigation.The retailer ended Q3 with $315 million in cash and $2.77 billion in available credit facility. Inventory levels increased 3.9% year-over-year, with approximately half the increase attributed to cost accounting conversion. The company retired $220 million of debt through a tender offer, with no major debt maturities until 2027.
梅西百货公布了2024年第三季度的初步业绩，净销售额下降了2.4%，降至47.42亿，而可比销售额在自有基础上下降了2.4%，在自有加许可加市场的基础上下降了1.3%。公司的前50个店铺实现了第三个连续季度的正可比销售增长，增幅为1.9%，而Bloomingdale's和Bluemercury则分别增长了3.2%和3.3%。公司发现了一项会计问题，一名员工故意隐瞒了2021年第四季度至2024年第三季度期间的1.32亿至1.54亿美元的运费支出，占该期间总运费支出的约3.5%（43.6亿）。因此，梅西百货推迟了其完整的第三季度财报发布和电话会议，新的日期定在2024年12月11日，以待独立调查的完成。该零售商第三季度结束时现金为31500万美元，现有信贷额度为27.7亿。库存水平同比增加3.9%，其中约一半的增幅归因于成本会计转换。该公司通过招标要约偿还了22000万美元的债务，直到2027年没有主要的债务到期。
梅西百货公布了2024年第三季度的初步业绩，净销售额下降了2.4%，降至47.42亿，而可比销售额在自有基础上下降了2.4%，在自有加许可加市场的基础上下降了1.3%。公司的前50个店铺实现了第三个连续季度的正可比销售增长，增幅为1.9%，而Bloomingdale's和Bluemercury则分别增长了3.2%和3.3%。公司发现了一项会计问题，一名员工故意隐瞒了2021年第四季度至2024年第三季度期间的1.32亿至1.54亿美元的运费支出，占该期间总运费支出的约3.5%（43.6亿）。因此，梅西百货推迟了其完整的第三季度财报发布和电话会议，新的日期定在2024年12月11日，以待独立调查的完成。该零售商第三季度结束时现金为31500万美元，现有信贷额度为27.7亿。库存水平同比增加3.9%，其中约一半的增幅归因于成本会计转换。该公司通过招标要约偿还了22000万美元的债务，直到2027年没有主要的债务到期。
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