Shares of retailer Macy’s (M) fell in today’s trading as investors await its Q2 earnings results on August 21 before the market opens. Analysts are expecting earnings per share to come in at $0.30 on revenue of $5.052 billion. This equates to 15.4% EPS increase and a -4.5% revenue decrease on a year-over-year basis.
Interestingly, it’s worth noting that Macy’s has beaten earnings estimates every quarter since its 2020 Q3. Therefore, it is likely that investors are expecting the same thing to happen again this quarter, which could make the stock more vulnerable to an earnings miss.
And there are reasons for investors to be cautious about a potential end to its EPS win streak. According to TipRanks’ Bulls Say, Bears Say tool, Macy’s has been losing market share since 2019. In addition, the firm’s turnaround plan faces execution risk and an uncertain timeline. Nevertheless, Macy’s is seeing greater conversion,…
