BUZZ-Macy's falls as Q4 sales forecast comes in below prior expectation

Updates

** Shares of department store chain Macy's M.N down as much as 7% at $14.72; the lowest since Dec. 11

** If losses hold, the stock set for its worst day since Aug. 21, 2024

** Macy expects Q4 net sales to be below the lower end of its prior forecast of $7.8 bln to $8 bln; analysts expected quarterly revenue to be $7.89 bln, according to data compiled by LSEG

** Also expects Q4 adj. earnings per share to be in line with the prior range of $1.40 to $1.65; analysts estimate the quarterly adj. profit to be $1.57 per share

** M fell about 16% in 2024

(Reporting by Anuja Bharat Mistry in Bengaluru)

((AnujaBharat.Mistry@thomsonreuters.com))