Business Context and Reporting Period
Company: Macy's, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: August 21, 2024
Reporting Period: The filing announces financial results for the 13 and 26 weeks ended August 3, 2024.
Key Financial Metrics
The filing text serves as a notice of results and does not contain specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These figures are contained in the attached press release (Exhibit 99.1).
Reported Measures:
- GAAP financial results.
- Non-GAAP measures including comparable sales (owned-plus-licensed-plus-marketplace basis), EBITDA, adjusted EBITDA, adjusted net income, and adjusted diluted earnings per share.
Adjustments: Non-GAAP metrics exclude impairment, restructuring and other benefits (costs), and settlement charges.
Material Changes
The filing text does not provide specific data on material changes versus prior periods. It references a press release that details the results of operations and financial condition for the specified periods.
Guidance, Outlook, and Risks
Management Commentary: The filing incorporates by reference a press release containing management's discussion of financial condition and results of operations.
Risks and Contingencies: The text notes the exclusion of specific items (impairment, restructuring, settlement charges) from non-GAAP measures but does not detail specific new risks or contingencies in the body of the 8-K.
Unusual Items: The filing highlights the use of non-GAAP measures that adjust for impairment, restructuring, and settlement charges.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific revenue, earnings, and cash flow figures for the 13 and 26 weeks ended August 3, 2024.
- Examine the reconciliation of non-GAAP measures (Adjusted EBITDA, Adjusted Net Income) to GAAP measures to understand the impact of exclusions.
- Verify the magnitude of impairment, restructuring, and settlement charges excluded from adjusted metrics.
- Check for any forward-looking guidance or outlook statements within the attached press release.