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))