Macy’s Group said the company's three-year Bold New Chapter is bearing fruit and the retailer is ‘well-positioned’ for the holiday season. Net income was $11mn, and adjusted net income was $26mn Q3 ended 1st November. That compares to net income of $28mn and adjusted net income of $11mn in the year-ago quarter. EBITDA, increased to $285mn, and core adjusted EBITDA was $273mn. That compares to adjusted EBITDA of $273mn, and core adjusted EBITDA of $207mn in the year-ago quarter.
Macy’s generated Q3r net sales of $4.71bn, compared to $4.74bn in the year-ago period, though the company indicated that the most recent sales figure exceeded its expectations and included store closings. Bloomingdale’s comparable sales were up 9%, marking the upscale department store’s biggest gain in 13 quarters. Bluemercury reported a 1.1% gain in comparable sales.